which of the following is the most accurate description of a monopolist? course hero

When a monopolist increases the quantity sold but sells the output?

If a monopolist increases quantity by one unit, but sells the increased output at a slightly lower price: Marginal revenue is affected by adding one additional unit sold at the new price Following the assumption that firms maximize profits, how will the price and output policy of an unregulated monopolist compare with ideal market efficiency?

What are some examples of monopolies in economics?

cost plus regulation Which of the following are considered examples of monopolies? US postal services electric utility companies Which one of the following is the most accurate description of a monopolist? sole producer of a product for which good substitutes are lacking in a market with high barriers to entry

What would happen to innovation if a company becomes a monopolist?

it would make innovation less lucrative, so the amount of research and development would likely decline. If a monopolist increases quantity by one unit, but sells the increased output at a slightly lower price: the marginal revenue curve must be below the demand curve

When does the marginal revenue curve of a monopolist lie below demand?

If a monopolist increases quantity by one unit, but sells the increased output at a slightly lower price: the marginal revenue curve must be below the demand curve The data below relate to a monopolist and the product it produces. What is the profit-maximizing output and price for this monopolist?

Which of the following is the most accurate description of monopolist?

The answer is: A sole producer of a product for which good substitutes are lacking in a market with high barriers to entry.. A monopolist is a... See full answer below.

When a natural monopoly exists in a given industry the per unit costs of production will b?

The correct answer is Option D. When a natural monopoly exists in a given industry, the per-unit costs of production will be lowest when a...

What is a natural monopoly quizlet?

A natural monopoly is a single seller in a market which has falling average costs over the whole range of output resulting from economies of scale. Often they are particularly significant industries such as the city water supply and have very high fixed costs and minimal variable costs.

Which of the following is true of a natural monopoly group of answer choices?

The correct option is: A. The firm can supply the entire market at a lower cost than could two or more firms.

What will abnormally high profits attract?

A. abnormally high profits will attract the entry of new firms.

Is a firm a natural monopoly?

A. the firm is a natural monopoly.

Which curve must be below the demand curve?

the marginal revenue curve must be below the demand curve

Which curve has the same shape as an inverted total product curve?

The variable cost curve has the same shape as an inverted total product curve.

What happens to demand curves as consumers change?

As the preferences of consumers change the demand curves for corresponding products will shift.