extraquiz2 - n on the inelastic portion of demand o both...

Info icon This preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Econ 251 Fall 2009 Extra Credit Quiz #2 Answers A monopoly is a market with: a. One seller. b. Two sellers. c. Many sellers. d. Indeterminate number of sellers. A monopoly is characterized by: e. Homogenous goods f. Barriers to entry g. Perfect substitute goods h. Price taking firms The demand curve for a monopolist is: i. horizontal j. the same as the market demand curve k. perfectly elastic l. none of the above A single-price monopoly never produces: m. at quantities where MR<0
Image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: n. on the inelastic portion of demand o. both a & b p. none of the above Which of the following is true for a monopoly market: q. it is inefficient r. deadweight loss is positive s. in the long run profits can be positive t. all of the above Midterm exam #2 is: u. Already passed v. On November 9 at 8 pm (need to study!) Econ 251 Fall 2009 Extra Credit Quiz #2 Answers w. Highly unlikely to happen x. all of the above...
View Full Document

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern