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I need help with these question, i'm very thankful for anyone can help. Monopoly 1) How many competitors does a monopoly firm face? 2) What

I need help with these question, i'm very thankful for anyone can help.

Monopoly

1) How many competitors does a monopoly firm face?

2) What are barriers to entry?

3) Who creates legal restrictions?

4) Why does on firm controlling a resource create barrier to entry?

5) How do firms maintain innovative superiority?

6) When does a natural monopoly occur?

7) What is the most common form of intimidating potential competition?

8) What is a monopoly firm's perceived demand curve?

9) When a monopoly firm increases its price, what happens to the quantity demanded of their product?

10) How is marginal revenue related to perceived demand?

11) What is the profit-maximizing point for a monopoly firm?

12) Are monopolies productive efficient? Why or why not?

13) Are monopolies allocative efficient? Why or why not?

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