Please answer

Quiz 9 Monopoly and Monopolistic Competition Prke Student AVO ABCU Quantity 4. Refer to the graph above. A monopolist would most likely produce the quantity shown by H. B. 204 160 790 1X CC. D. D Quantity eer ary 3. A movie theater is a price discriminating monopolist and charges a higher ticket price for late-evening 1. Refer to the graph above. If this monopolist sets the price to maximize profit it will charge. showings. From this we know that A. $16 for its product A. Late-evening moviegoers have perfectly inelastic demands. B.$12 for its product B. Late-evening moviegoers have less elastic demands than daytime or early-evening moviegoers. C. S& for its product. C Late-evening moviegoers have more elastic demands than daytime or early-evening moviegoers. 12.All for us product D. Daytime and early-evening moviegoers have perfectly elastic demands. 2. A significant difference between monopoly and competition is that 6. When a company holds a patent on a life-saving drug. government could ensure the availability of the drug at affordable prices without reducing incentives for future development in the pharmaceutical industry by: A. free entry and exit is possible in a monopolized industry but impossible in a competitive industry B. competitive firms control market supply but monopolies do not. A. forcing the company to charge a pri C. the monopolist's demand curve is the industry demand curve while the competitive firm's demand curve is B. purchasing she putent from the compu Mikelbe ding perfectly elastic. C.establishing Aneffective Dance D. profits are driven to zero in a monopolized industry but may be positive in a competitive industry. 3. A price-discriminating monopolist will produce an output 7. For a monopolist to earn an economic profi in the long run, which of the following must happen? A. There are barriers to entry. A. below that of a normal monopolist. B. Average total costs must fall B. the sing as that of I normal ipppopplot C. Welfare loss due to monopoly must increase C.above that of a coup) monopolist D. Fixed costs must be eliminated. 8. Monopoly is a market structure where A one firm makes up the entire market B. a few firms donnnate the market. many firms produce differentiated paxfacts. D. many firms produce identical products.en Web Outline Draft Zoom 100% New g Layout Navigation Pane Page Width Wind cument Views Show Zoom 1161 9. Refer to the graph above. The firm in this monopolistically competitive industry will: A. earn economic profits of $70,000 per year. B. earn economic profits of $140,000 per year. C. incur economic losses of $140,000 per year. D. incur economic losses of $70,000 per year. Price Q1 02 Quantity 10. Refer to the graph above depicting a monopolistically competitive firm. The marginal cost curve represented by curve: A. A. B. B. C. C. D. D Words: 476