This preview shows pages 1–3. Sign up to view the full content.
This preview has intentionally blurred sections. Sign up to view the full version.View Full Document
Unformatted text preview: C), the monopoly has a strong influence over the price of the good or service. D), the monopoly has severe diseconomies of scale. 3, In the figure below, in the perfectly competitive market, the firm's supply curve is the curved line linking A), point a to point c and stopping at point c. B), point b to point d and continuing on past point d along the MC curve. C), point b to point f and stopping at point f. D), point c to point e and continuing on past point e along the ATC curve. 2 4, For the single-price monopoly shown in the figure below, when its profit is maximized, output will be A), 4 units per year and the price will be $6. B), 4 units per year and the price will be $4. C), 6 units per year and the price will be $4. D), None of the above answers is correct. THE END 3...
View Full Document
This test prep was uploaded on 04/19/2008 for the course ECON 200 taught by Professor Newton during the Spring '08 term at Ohio State.
- Spring '08