1 answer

Help with all these questions The accompanying figure shows the demand curve, marginal revenue curve, marginal...

Question:

help with all these questions

The accompanying figure shows the demand curve, marginal revenue curve, marginal cost curve and average total cost curve forThe accompanying figure shows the demand curve, marginal revenue curve, marginal cost curve and average total cost curve forWhich of the following industries does not fit the natural monopoly model? Multiple Choice Electricity O Cable TV Cable TV Na

The accompanying figure shows the demand curve, marginal revenue curve, marginal cost curve and average total cost curve for a monopolist. Price (5/unit) O NABONN ONA 1 2 MRD 3 4 5 6 7 8 Quantity (units/day) 9 10 The socially optimal level of output is: Multiple Choice O 8 units per day O 10 units per day. 5 units per day. 4 units per day.
The accompanying figure shows the demand curve, marginal revenue curve, marginal cost curve and average total cost curve for a monopolist. Price (S/unit) MC MR 3 4 5 6 7 8 9 10 Quantity (units/day) This monopolist maximizes its profit by producing --_____ units per day and charging a price of ____ per unit. Multiple Choice 4; $18 8; $6 4:86 4; $6 08:514 8. $14
Which of the following industries does not fit the natural monopoly model? Multiple Choice Electricity O Cable TV Cable TV Natural gas o oo Fast food restaurants

Answers

Answer : 1) The answer is option A.

Socially optimal output level is that output level where D = MC occur. Here at output level of 8 units per day D = MC occurs. So, here the socially optimal output level is 8 units per day. Therefore, option A is correct.

2) The answer is option A.

The monopolist's profit maximizing output level is that output level where MR = MC occur. Here at output level of 4 units per day MR = MC occurs where the price is $18.

Therefore, option A is correct.

3) The answer is option D.

Fast food restaurants are the example of monopolistic competitive market. Fast food restaurants are not the example of natural monopoly. Therefore, option D is correct.

.

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