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- The graph shown represents the cost and revenue curves faced by a monopoly 18 876543N-OOO7SSAMNI 17 16 15 14 S 13 12 11 10 9 2 1 MC ATC X MR %70%85% -% 90 A. II only B. I and III C. I only D. II and III only 100 110 Which of the following statements is true? . The monopolist's profit maximizing price is $12. 2. The monopolist's profit maximizing quantity is 100. . The monopolist will earn zero profits. 120 130 140 150 160 170 D Quantity2. Yardstick competition has been suggested as an alternative method to regulate firms. Define yardstick competition and indicate how it might be implemented. In addition, outline the problems that yardstick competition is designed to address.Can anyone please help!
- 1. When a monopoly advertises, the goal is to _____ because _____. Group of answer choices increase its demand as a share of market demand; the monopoly faces a significant portion of market demand increase market demand; the monopoly faces the entire market demand increase market demand; the monopoly produces a product that is identical to the output of all other sellers in the market increase its demand as a share of market demand; the monopoly faces a small portion of market demand 2. If given a choice, a person would prefer to experience the situation of which of the following families? Group of answer choices a family with income equal to the world poverty line a family with income equal to the United States poverty line a family with income double the world poverty line a family with income equal to the poverty line in the United States in 1970 3. A business using its bargaining power as a major buyer of labor to pay lower prices, including lower wages,…1. Describe two cases of imperfect competition in which regulation is desirable? a) why is market regulation not generally desirable when competition is “perfect”?2
- Respond to the question with a concise and accurate answer, along with a clear explanation and step-by-step solution, or risk receiving a downvote. Refer to the monopoly market graph. What price would a regulatory commission set so that profits are equal to zero? a. 30 b. 20 c. 40 d. 60Provide the difference between Legal Regulatory Requirements and Policy. Give an example1. Sources of monopoly power A monopolist, unlike a competitive firm, has some market power. It can raise its price, within limits, without the quantity demanded falling to zero. The main way it retains its market power is through barriers to entry-that is, other companies cannot enter the market to create competition in that particular industry. Complete the following table by indicating which barrier to entry appropriately explains why a monopoly exists in each scenario. Barriers to Entry Government- Created Monopolies Scenario Patents are granted to inventors of a product or process for a certain number of years. The reason for this is to encourage innovation in the economy. Without the existence of patents, it is argued, research and development for improved pharmaceutical products is unlikely to take place, since there's nothing preventing another firm from stealing the idea, copying the product, and producing it without incurring the development costs. In the natural gas…
- Changing a regulation may require focusing on different targets depending on the stage of development of the issue. .The _ is the person or body (e.g., school board or city council) who has the power to make the necessary change. secondary target O main objective O bullseye O primary target engaged audience1. “Economics of Monopoly Power”Please respond to the following:From the first e-Activity, take a position on whether or not the current initiatives of the FCC encourage competition in all communication markets and protect the public. Provide specific examples to support your response.List and discuss three economic justifications for government regulation in your local area. Explain what happens if the government does not provide appropriate regulation. Determine the costs on society of government regulation.2. “Monopoly and Price Fixing”Please respond to the following:From the scenario, identify the possible illegal or unethical activities activities in which the print shop boss plans to engage in, and identify the consequences on society from an economic point of view. Explain whether or not you would have discussed these issues with the boss.From (1) a single product market perspective and (2) a natural monopolist market perspective, give your opinion on…