Need help with assessment!!!! I can't see what answers are wrong making me have to retake this over and over

1 Which of the following best approximates a pure mencpoly? 3333 Multiple Choice points O a retail store in Boston O the auto industry the local electric company Which of the following is not a characteristic of pure monopoly? Multiple Choice one firm O easy entry O & unique product O price-making ability 1 1 Output Price Total Cost 3334 oints Refer to the demand and cost data for a pure monopolist given in the table. If the monopolist were forced to produce the socially optimal output threugh the imposition of a ceiling price, the ceiling price would have to be set at Multiple Choice $150. O $200. O $100 () s 1 2 The following are the respective numbers for the four-firm concentration ratio and Herfindahl index in an industry. Which set of numbers is most suggestive that the industry is monopolistically competitive? Multiple Choice 3334 points O 76 and 2,662 () soangieno 89and 2,582 O 25and 207 13 Market Share (%) 33.34 polnts Refer to the data. If all the firms in the industry merged into a single firm, the Herfindahl index would become Multiple Choice O o 10,000. 100,000. o O | @ 1,000. 14 Market Share (%) 33.34 paints Refer to the data showing the six largest firms in an industry. The four-firm concentration ratio for this industry is Multiple Choice Q 17.5 percent. . indeterminate because not all of the firms in this market are shown in the table. 70 percent. 85 percent. 15 Market Share (%) 3334 points Refer to the data showing the six largest firms in an industry. If firm D split into two firms with identical market shares, the four-firm concentration ratio would Multiple Choice O be indeterminate because not all of the firms in this market are shown in the table O remain unchanged. rise. fall. The monopolistically competitive seller's demand curve will become more elastic the 16 Multiple Choice 33.33 paints Skipped O smaller the number of competitors. greater the degree of product differentiation. larger the number of competitors. O more significant the barriers to entering the industry. A monopolistically competitive firm is producing at an output level in the short run where average total cost is $5.50, price is $5.00, marginal revenue is $3.50, and marginal cost is $3.50. This firm is operating 17 Multiple Choice 3333 points O at a nonoptimal level of output. O with positive profits. O with a loss. atthe break-even point A monopolistically competitive firm is producing at an output level in the short run where average total cost is $4.50, price is $4, marginal revenue is $2.50, and marginal cost is $2.50. This firm is operating 18 Multiple Choice 3333 points O ata nonoptimal level of output with a loss. O with positive profits O atthe break-even point. Quantity Total Output Total Cost Demanded Price 19 3333 polnts If the firm sells 4 units of output, marginal revenue will be Multiple Choice () s @ - O %14 20 3553 points Skipped Refer to the data. Suppose that firms A and F merged into a single firm. The four-firm concentration ratio and the Herfindahl index would be Multiple Choice O 85 percent and 1,905, respectively. O 85 percent and 2130, respectively. O 100 percent and 1,905, respectively. : { 81 percent and 2,130, respectively. Which of the following is not a barrier to entry? Multiple Choice O licenses economies of scale preduct differentiation netwaork effects You are told that the four-firm concentration ratio in an industry is 60. Based on this information you can conclude that 2] Multiple Choice 3333 points O each of the top four firms has, on average, 60 percent of industry sales. . this industry's market structure is monopaolistic competition. each of the four largest firms accounts for 15 percent of industry sales. the four largest firms account for 60 percent of industry sales. Market Share (%) 22 3.33 olnts The four-firm concentration ratio for the industry described in this table is Multiple Choice O indeterminate since we don't know which four firms are included. O 10 percent. . 90 percent O 100 percent. One major problem with four-firm concentration ratios is that they fail to take into account 23 Multiple Choice 33:33 points Skipped O dominance of the largest firms. excess capacity in production. mutual interdependence. Q price leadership. Y's Prices 3333 points X's Prices Skipped Refer to the profits-payoff table for a duopcly. If the firms are acting independently and firm X sets its price at $7, firm Y will achieve the largest profit by selecting Multiple Choice $6. a price between $4 and $6. 34 OO O a price higher than $6. 25 3333 points Skipped Beta's Price Palicy h Low Al s20 | B s30 High Alpha's $20 $10 Price Policy $10 D $15 Low $30 $15 Refer to the diagram, where the numerical data show profits in millions of dollars. Beta's profits are shown in the northeast corner and Alpha's profits in the southwest corner of each cell. If both firms follow a low-price policy. Multiple Choice O each will realize a $20 million profit O Alpha will realize a $10 million profit and Beta a $30 million profit. O each will realize a $15 million profit () Betn will realize a $10 million profit and Alpha a $30 million profit 26 33.33 waints Firm X High Price | Low Price @ 2 X=$625 | X=$725 o i o > |2 Y=9$625 | Y=$475 =T o] ) W19 X=%$475 | X=%400 o 2| v=3725 | v=$400 Answer the question based on the payoff matrix for a duopoely in which the numbers indicate the profit in thousands of dollars for a high-price or a low-price strategy. If this is a sequential game and moves first, the most likely profit is Multiple Choice O $625,000 for firm X and $625,000 for firm Y. $475,000 for firm X and $725,000 for firm Y. $400,000 for firm X and $400,000 for firm Y. K72R00N0 for firm X and 475 NOO for firm Y Beta's Price Policy 27 TR A I s20 | B | sa30 3333 High points Alpha's $20 $10 Price Policy C $10 D $15 Low $30 $15 Refer to the diagram, where the numerical data show profits in millions of dollars. Beta's profits are shown in the northeast corner and Alpha's profits in the southwest corner of each cell. If Alpha commits to a high- price policy, Beta will gain the largest profit by Multiple Choice adopting a high-price policy. O adopting a low-price policy, but only if Alpha formally agrees to do the same. O engaging in nonprice competition only. m adopting a low-price policy. @ 28 3333 points Dollars Quantity Refer to the diagram for a non-collusive oligopolist. Suppose that the firm is initially in equilibrium at point , where the equilibrium price and quantity are Pand Q. If the firm's rivals will match any price increase but ignore any price reduction, then the firm's demand curve will be {moving from left to right) \fNumber of Price Baskets Sold 7 3334 points The table shows the demand schedule facing Nina, a monopolist selling baskets. If Nina had no production costs, what price would she charge to maximize profits? Multiple Choice O $16 $12 O $10 (O o A monepolistic firm has a sales schedule such that it can sell 10 prefabricated garages per week at $10,000 each, but if it restricts its output to 9 per week it can sell these at $11,000 each. The marginal revenue of the 10th unit of sales per week is 3334 points Multiple Choice O $10,000. $9,000. O $1,000. O ~$1,000. 7 Answer the question on the basis of the accompanying demand schedule. 3334 polnts The marginal revenue obtained from selling the third unit of autput is Multiple Choice () s O $12. O $16. . $18. 8 Quantity of Output Total Cost [Product Price] Q $256 $248 3333 1 260 200 points 2 290 160 3 350 120 4 486 8@ 5 700 49 If the profit-maximizing pure monopolist whose information is in the accompanying table is able te price discriminate, charging each customer the price associated with each given level of ocutput, how much profit will the firm earn? Multiple Choice $480 () o () smo (O o %