HELP

1. Profit maximization is the goal of which type of firm: ( 2 points) a. Competitive firm b. Monopoly c. Oligopoly d. All of the above 2. For a perfectly competitive firm, the level of output that maximizes profits is where MR MC; and for the monopolist, it is where MR MC. ( 2 points) a. Equals; is greater than b. Equals; is less than c. Equals; equals d. Is less than; equals 3. Firms in imperfect markets (not perfect competition) exhibit , which is the ability to raise prices without losing all the demand for their product. ( 2 points) a. A competitive nature b. Market power c. Positive profits d. Homogenous products 4. Let's assume that a pharmaceutical company derives a vaccine for the Corona Virus and obtains the legal ability to maintain a monopoly over the development of this vaccine for the next seventeen years. Which of the following barriers to entry does this situation provide an example of? ( 2 points) a. A government franchise b. A natural monopoly c. A patent d. A locational monopoly 5. The Aluminum Company of America (now Alcoa) owned or controlled virtually 100 percent of the bauxite-deposits in the world up until the 1940s. This is an example of what type of market? (2 points) a. Perfect Competition b. Monopoly 6. The Yosemite Concession Services Corporation has an exclusive license from the U.S. government to run the lodging and concession operations at Yosemite National Park. This is an example of what type of market? (2 points) a. Perfect Competition b. Monopoly