Please Help me with these question

1. Monopoly is a market structure characterized by a:

a. Single firm operating as a price taker.

b. Few firms operating as price takers.

c. Single firm that is not a price taker.

d. None of these.

2. A monopolized market is characterized by:

a. A sole seller of a product for which there are few suitable substitutes.

b. Very strong barriers to entry.

c. A single firm facing the market demand curve.

d. All of these.

3. The monopolist's demand curve is:

a. Identical to the marginal revenue curve.

b. Below the marginal revenue curve.

c. A horizontal line at the market price.

d. Identical to the market demand curve.

4. The demand curve any monopolist uses in making output decisions is:

a. The same as the demand curve facing a perfectly competitive firm.

b. Vertical, because there are no close substitutes for its product.

c. Horizontal, because there are no close substitutes for its product.

d. The same as the market demand curve.

e. Perfectly inelastic.

5. Which of the following is true for a pure monopolist?

a. The firm has a perfectly elastic demand curve.

b. The firm will always earn an economic profit.

c. The demand curve is above the marginal revenue curve.

d. None of these is true.

6. Graphically, the marginal revenue curve of a monopolist:

a. Will sometimes lie below the demand curve of the monopolist.

b. Will always lie below the demand curve of the monopolist.

c. Is the same as the demand curve of the monopolist.

d. Will equal 1 when the elasticity of demand is unitary.

7. At the long-run equilibrium level of output, the monopolist's marginal cost will:

a. Exceed price.

b. Equal price.

c. Be less than price.

d. Be less than marginal revenue.

8. If marginal cost exceeds marginal revenue, a profit-maximizing monopolist will:

a. Restrict output to increase the price even higher.

b. Raise price and expand output to increase profit.

c. Lower price and expand output to increase profit.

d. Attempt to maintain this position because it is consistent with profit maximization.

9. A monopolist will maximize profits by:

a. Setting his price as high as possible.

b. Setting his price at the level that will maximize per-unit profit.

c. Producing the output where marginal revenue equals marginal cost.

d. Producing the output where price equals marginal cost.

10. A monopoly:

a. Faces the market demand curve which is downward sloping.

b. Has a marginal revenue curve which slopes downward and lies below its demand

curve.

c. Will maximize profits by producing an output level where MR = MC.

d. All of these.