In a monopoly, producer surplus is
A) larger than under perfect competition.
B) is equal to that under perfect competition.
C) smaller than under perfect competition.
D) None of these choices is true.
Correct Answer:
Verified
Q32: Examples of strategic behavior include
A)kinked demand and
Q33: In a monopoly,
A)marginal revenue is greater than
Q34: Monopolies exist due to
A)patents.
B)government franchises.
C)cost factors.
D)all of
Q35: Firms in an oligopoly
A)act independently.
B)engage in strategic
Q36: For a competitive firm
A)price is equal to
Q38: Firms maximize profits when marginal revenue equals
Q39: Monopolies have _ substitutes.
A)many
B)few
C)no
D)several but less than
Q40: The kinked demand curve is based on
Q41: A monopoly can block the entry of
Q42: Entry drives economic profits to zero.
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