Question
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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