Hi tutor' Could you help me please, This will be my reviewer. Thank you

1. Which of the f is true of the pure monopolist?

a. demand curve facing the product is the market demand curve

b. producers sella product for which there are many substitutes

c. producers are price takers

d.producers always charge the highest possible price

e. producers enjoy complete freedom o entryinto and out of the industry

2. which o the followingfirms cannot make an economic profit in the long run?

a. the monopoly

b. the oligopoly

c. the monopolistically competitive firm

d. the perfectly competitive firm

e. they can all make an economic profit in the long run

3. if a perfectly competitive firm is losing money in the short run,then

a. it should shut down

b. it should shut down only if its loses are greater than its fixed costs

c. it should shut down only if price is smaller than average variable costs

d. in should never shut down in the short run

e. this is because price is equal to average total costs

4. The monopoly

a. may produce in the range of diseconomies of scale

b. will always produce where price equals marginal cost in the long run

c. will produce where marginal benefitsequal marginal costs

d. will maximize profit by producing where price equals marginal costs

e/ will maximize consumer welfare

5. a monopolist who price discriminate is attempting to:

a. sellthe product at the cheapestpossible price

b. sell the product at a marginal cost

c. sell the greatest possible number of products

d. charge the highest possible price it can receive

e. sell the product at buyers marginal costs

6. an imperfectly price discriminating monopolist will charge a higher price in the market that has

a. a more inelastic demand

b. a more elastic demand

c. fewer customer

d. higher costs

e. none of the above

7. the results of monopoly power include

a. higher prices

b. greater production

c. a more socially desirable redistribution o income

.d. the minimization of production costs hence an efficient employment of resources

e. all of the above

8. amonopolys marginal revenue

a. increase as more units as solds

b. decreases as more units are sold

c. is constant as more units are sold

d. curve is a horizontal line

e. curve is controlled by the monopoly

9. a monopolys marginal revenue is always less than price except for the first unit sold because

a.the monopoly is less efficient than a competitive firm

b. as price rises total revenue rises

c. the monopoly must reduce price to sell more

d. the monopoly is a price taker

e. the monopoly is faced with an upward sloping demand curve

10. a monopoly can incurlosses

a. if demand is relatively weak and costs are relatively high

b. only in the short run

c. in the short run to discourage a potential competitor from entering the market or to bankrupt a new competitor

d. for all the above reasons

e. for none of the above reasons