answer this tenchu- 5. If a monopoly takes over 100% of a market previously operating under perfect *competition, the long run impact on price and output will beA price will be higher and output will be lower.B price will be lower and output will be higher.C price will be higher and output will be higher.D It is not possible to predict without further information about the market

Pure monopoly occurs when a firm is a single seller of a good and service in an industry . So it…

Answered: 5. If a monopoly takes over 100% of a…

5. If a monopoly takes over 100% of a market previously operating under perfect competition, the long run impact on price and output will be

Economics For Today

10th Edition

ISBN:9781337613040

Author:Tucker

Publisher:Tucker

Chapter9: Monopoly

Section: Chapter Questions

Problem 12SQP

See similar textbooks

Related questions

Q: Frank's Fajitas can produce 45 fajitas per hour with five workers and one grill. One more worker…

A: Marginal cost is the additional cost incurred in order to produce an additional unit of output.

Q: Calculate the real GDP for 2011, 2012 and 2013. Also the growth rate in real GDP for 2012 and 2013.

Q: In each of the following cases, classify the person as cyclically unemployed, structurally…

A: The term unemployment refers to a situation where a person actively searches for employment but is…

Q: 25% chance to win $50 20% chance to win $80 Sure win of $50 80% chance to win $80 a. Show that it is…

A: Expected utility theory is a tool used for evaluating the decision of a person in a situation when…

Q: What is the optimum of allocative efficiency?

A: Efficiency Efficiency refers to the capacity that avoids wasting materials, energy, effort, money,…

Q: ● Calculate the CPI for 2012 (using 1 decimal place). Calculate the CPI for 2013 (using 1 decimal…

A: Formula: Current year price * current year quantity 2011: (using 2011 price and 2011 quantity)…

Q: Continued monetary tightening 05 October 2022 The Monetary Policy Committee today increased the…

A: Committee members agreed that monetary conditions needed to continue to tighten until they are…

Q: 1. Please explain why the marginal revenue curve for a perfectly competitive firm is horizontal.

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: calculate the inflation rate for 2012 and 2013.

Q: MATCH THE terms in the Definition. . A sustained rise in the average price level over a period of…

A: Professionals can predict the path of the economy by keeping track of the cycle. All the sectors of…

Q: mr.rahim is planning to pursue MBA studies.initial inquiry shows that he will have to pay RM 25,000…

A: Profits are treated and calculated differently by economists and accounts. While calculating the…

Q: Which of the following best explains why adding more of a variable input will eventually lead to…

A: The production of output depends on different inputs. In the short run, some inputs are kept fixed…

Q: Consider a hybrid vehicle with a price of $30,000. This vehicle will average 30 miles per gallon of…

A: Information provided: Hybrid Vehicle: The price is $30,000 The average miles per gallon of gasoline…

Q: Productive efficiency refers to: A) the use of the least-cost method of production. B) the…

A: Productive efficiency Productive efficiency is associated with creating goods and services using the…

Q: Discuss, any three forms of non-tariff trade restrictions that government officials impose to limit…

A: The term "trade restrictions" refers to the numerous policy tools the government uses to limit the…

Q: Carefully explain the impact on the money demand curve, money supply curve, equilibrium interest…

A: Money market: As the central bank issues the fresh currency and hence, they determine the level of…

Q: Coins in people's pockets and purses are: included in M1, but not in M2. included in both M1…

A: M1 consists of Coins and currency in circulation , travellers checks , checkable deposits. M2…

Q: he graph directly below depicts the production of oil from the Gulf of Mexico, with market demand,…

A: Negative externalities refers to the negative impacts of economic activities which are not accounted…

Q: Which type of lending institute is either federal or state chartered? Credit unions Mutual…

A: A financial institution is an institution that gives services that people need to manage their…

Q: In the United States, nominal interest rates tend to move economy is experiencing, nominal interest…

A: Nominal interest rate refers to the rate of interest before considering the inflation into account,…

Q: 1 23 3 4 567800 A Capital (K) 1 1 1 1 1 1 1 1 1 1 Labor (L) 1 2 3 4 5 6 7 8 Total Product (TP) 10 9…

A: Production refers to the process of transforming raw materials or inputs into final products. Inputs…

Q: The demand in market 1 is D₁ = 24 - P₁ The supply in market 1 is S₁ = -2 + P₁ The demand in market 2…

A: Given function D1=24-P1 S1=-2+P1 D2=16-P2 S2=2+P2 Cost of transportation Pt=2

Q: In the attached table, from 200 to 300 units of output, the average cost of production is in the…

A: Average cost is the cost of producing per unit. Average cost can be calculated by dividing the…

Q: Explain the two distorting effects of the tariff

A: A levy is a fee placed on an imported good with the intention of reducing the amount of imported…

Q: 4) Monopolist with tax: Suppose the firm faces the following inverse demand function and total cost…

A: A monopoly is a market form where there is only one participant selling the goods and services,…

Q: Parliament is interested in financing the cost of their proposed childcare programme by imposing a…

A: It is unfounded to worry that employees will shoulder all costs associated with a payroll tax…

Q: The Grubel-Lloyd index is used to measure the degree of intra-industry trade, Interpret what an…

A: The Grubel-Lloyd file measures intra-industry trade of a specific item. It was presented by Spice…

Q: Is Neoliberalism is a bad or good thing knowing there are pros and cons?

A: Neoliberalism is a word used to describe the political resurgence of 19th-century theories of…

Q: Is UBI universal basic income a good idea to be implemented in Aghanistan?

A: A proposed government guarantee of a monthly payment to every citizen is known as universal basic…

Q: match the letter to the Description or over production Inventory and demand not in sync Alternating…

A: Endogenous growth theory is based on an assumption that the economic growth is mainly due to the…

Q: Especially in light of the COVID 19 epidemic, it is important to identify the most important…

A: Introduction: Due to school cancellations in response to the current COVID-19 outbreak, kids from…

Q: Two bidders compete in a sealed-bid auction for a single indivisible object. For each bidder i, the…

A: In the sealed-bid auction, when bidders place their bids without being aware of the other…

Q: a. Complete the table below Quantity TC TVC AFC ATC…

A: “Since you have asked multiple question, we will solve the first question for you. If youwant any…

Q: What will happen when variable costs rise in a perfectly competitive industry? Selected answer will…

A: Perfectly competitive market refers to the market where a firm is taker and price is determined by…

Q: 1. What is the relationship between the time value of money and inflation? 2. Compare simple…

A: Since you have asked multiple questions, we will solve first question for you. If you want other…

Q: Suppose company XYZ produces a differentiated commodity. The company has substantial control over…

Q: China and South Korea are two of the leading manufacturers of smartphones and laptops. While the…

A: A free trade agreement won't have much of an influence on the laptop market since it is very…

Q: Consider a perfectly competitive firm in long-run equilibrium. Prices of variable inputs increase.…

A: The perfectly competitive market produces where the P = MC. The firm does not have control over the…

Q: Could you please provide an example (article) of the opportunity cost in real life and explain in…

A: Answer to the question is as follows:

Q: Type your homework assignments. Show necessary reasoning and calculations that lead to your answers.…

Q: You have been asked to analyze what will happen to the New England market for electricity if the…

A: Market equilibrium: At the market equilibrium we have demand equals to supply. Or at market…

Q: Suppose the full employment output level in this economy is $300 billion. In order to move the…

A: Full employment is the condition where all people who are available and searching for work can find…

Q: Question 2 If the slope of the total productivity line is decreasing as output increases, what…

A: Marginal product states that change in output due to an additional unit of input like labour. On the…

Q: the 50,000 from the deprecation formula, is it the annual profit or is it the salvage value?

A: First of all, we have to know the terms depreciation expense, salvage value and rate of return.…

Q: What nominal rate per month is equivalent to an effective 6.3 % per month, compounded continuously?…

A: Given information: The effective interest rate is 6.3% per month, compounded continuously. The…

Q: SCENARIO: Greater consumption of alcohol leads to more motor vehicle accidents and, thus, imposes…

A: A cost or usual benefit of an economic activity that is felt by a separate third party is known as…

Q: What is the basic principle of the Cupe Strike Current Event as shown in the table?

A: The phrase "economic principle" refers to a wide variety of economic theories and principles that…

Q: In the closed economy IS-LM model, how would the responsiveness of money demand to a change in…

A: IS-LM Model: The IS-LM model explains how the macroeconomy's interest rate and total output. It…

Question

answer this tenchu-

5. If a monopoly takes over 100% of a market previously operating under perfect *
competition, the long run impact on price and output will be
A price will be higher and output will be lower.
B price will be lower and output will be higher.
C price will be higher and output will be higher.
D It is not possible to predict without further information about the market

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step 3

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 3 steps with 1 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

What is a natural monopoly?
What is a legal monopoly?
How does the quantity produced and price charged by a monopolist compare to that of a perfectly competitive film?
Draw a monopolists demand curve, marginal revenue, and marginal cost curves. Identify the monopolists profit-maximizing output level. Now, think about a slightly higher level of output (sayQ0+1). According to the graph, is there any consumer willing to pay more than the marginal cost of that new level of output? If so, what does this mean?
Suppose demand for a monopolys product falls 50 that its profit-maximizing price is below average variable cost. How much output should the film supply? Hint: Draw the graph.
How is the perceived demand curve for a monopolistically competitive film different from the perceived demand curve for a monopoly or a perfectly competitive film?
How can a monopolist identify the profit-maximizing level of output if it knows its total revenue and total cost curves?
If a monopoly firm is earning profits, how much would you expect these profits to be diminished by entry in the long run?