) wich of the following is not an assumption of the theory of monopoly? Group of answer choices there is only one seller in the industry the seller sells a product for which there are no close subsitutes the seller has high variable costs there are high barriers to entry into the industry
Economics
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1)
wich of the following is not an assumption of the theory of
Group of answer choices
there is only one seller in the industry
the seller sells a product for which there are no close subsitutes
the seller has high variable costs
there are high barriers to entry into the industry
2)
which of the following is the best example of a barrier to entry into a monopolistic industry?
Group of answer choices
diminishing returns
economies of scale
comparative advanage
high
3)
a
Group of answer choices
faces a horizontal demand curve
is a seller that searches for good employees and pays them low wage
is a seller that searches for the best price at which to buy its nonlabor inputs
is a seller that has the ability to control, to some degree the price of the product it sells
4)
the marginal revenue curve lies above the demand curve for a
Group of answer choices
monopoly firm
price taker
price searcher
none of the above
5)
economic or monopoly rent is a payment in excess of
Group of answer choices
price
none of the above
6)
when a seller charges the highest prices each consumer would be willing to pay for the product rather than go without that product is practicing
Group of answer choices
perfect
disciplined price discrimination
second-degree price discrimination
competitive price discrimination
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