--%>

Outcome of a purely competitive market

When cost conditions are otherwise identical, compared to the outcome of a purely competitive market, in that case a monopolist: (w) produces less and charges more. (x) maximizes total profits whenever possible. (y) confronts a demand curve where P = MR. (z) produces more and charges more.

Can anybody suggest me the proper explanation for given problem regarding Economics generally?

   Related Questions in Microeconomics

  • Q : Elasticity and Revenue At the point of

    At the point of unit elasticity beside the demand curve then a firm faces: (w) profits are always maximized. (x) total revenue is certainly at a maximum. (y) total costs are minimized. (z) All of the above. I need

  • Q : Curing scarcities of good Curing

    Curing scarcities in the market for ice cream needs: (i) Rises in the price of ice cream. (ii) Reduces in the supply of ice cream. (iii) Rises in the demand for ice cream. (iv) Reduction in the price of ice cream. (v) Burden of a price floor.

  • Q : Define price ceiling Price ceiling :

    Price ceiling: Price ceiling refers to the highest price fixed by the government beneath the market determined price (that is, equilibrium price) so that requirements might be made accessible to the common people at a reasonable price. In India the go

  • Q : Perfect elasticity of demanded curve

    The graph of a demand curve which is perfectly elastic is: (1) positively sloped. (2) horizontal. (3) vertical. (4) negatively sloped. (5) a 45° diagonal line. Can someone explain/help me with

  • Q : Stable Competitive Economy Into a

    Into a stable competitive economy without innovation, transaction, or uncertainty costs, all accounting profits would be: (w) pure economic profits. (x) payments required to secure owner-provided resources. (y) pure e

  • Q : Problem related to Sellers markets

    Seller’s markets frequently exist when: (i) There are extensive surpluses. (ii) Prices are increasing. (iii) The government enforces price floors. (iv) Inventories are much high. Can someone please help me in finding out the

  • Q : Monopsony how do you determine

    how do you determine equilibrium for nurses in a monopsony

  • Q : Unimportant economies of scale If

    If comparing market structures, when economies of scale are unimportant: (w) the most efficient form of market structure is a pure monopoly. (x) purely competitive industries and price discriminating monopolies are equally efficient. (y) price discrim

  • Q : Total revenue and total cost for firm

    Total revenue for the firm in illustrated figure is __________ __________ total cost.: (w) greater than (x) less than (y) equal to (z) Cannot be determined by the information given.

    Q : Describe Break Even Price Describe

    Describe Break Even Price in Economics for a purely competitive firm?