Sec 15.3 MC The Welfare Cost of Monopoly

《Sec 15.3 MC The Welfare Cost of Monopoly》由会员上传分享，免费在线阅读，更多相关内容在学术论文-天天文库。

1、1. Monopoliesareinefficientbecausethey(i)eliminatebarrierstoentry.(ii)pricetheirproductatalevelwheremarginalrevenueexceedsmarginalcost.(iii)restrictoutputbelowthesociallyefficientlevelofproduction. a. (i)and(ii)only b. (ii)and(iii)only c. (iii)only d. (i),(ii),and(iii)ANSWER:  cDIFFICULTY:  Mod

2、erateLEARNING OBJECTIVES:  ECON.MANK.003-Analyzethebehaviorandmarketeffectsofmonopolies.TOPICS:  MonopoliesKEYWORDS:  BLOOM'S:ComprehensionCUSTOM ID:  001.15.3-MC-MANK082. Amonopolistproduces a. morethanthesociallyefficientquantityofoutputbutatahigherpricethaninacompetitivemarket. b. lessthanth

3、esociallyefficientquantityofoutputbutatahigherpricethaninacompetitivemarket. c. thesociallyefficientquantityofoutputbutatahigherpricethaninacompetitivemarket. d. possiblymoreorpossiblylessthanthesociallyefficientquantityofoutput,butdefinitelyatahigherpricethaninacompetitivemarket.ANSWER:  bDIFF

4、ICULTY:  ModerateLEARNING OBJECTIVES:  ECON.MANK.003-Analyzethebehaviorandmarketeffectsofmonopolies.TOPICS:  MonopoliesKEYWORDS:  BLOOM'S:ComprehensionCUSTOM ID:  002.15.3-MC-MANK083. "Monopolistsdonotworryaboutefficientproductionandminimizingcostssincetheycanjustpassalonganyincreaseincoststoth

5、eirconsumers."Thisstatementis a. false;priceincreaseswillmeanfewersales,whichmaylowerprofits. b. true;thisistheprimaryreasonwhyeconomistsbelievethatmonopoliesresultineconomicinefficiency. c. false;themonopolistisapricetaker. d. true;consumersinamonopolymarkethavenosubstitutestoturntowhenthemono

6、polistraisesprices.ANSWER:  aDIFFICULTY:  ModerateLEARNING OBJECTIVES:  ECON.MANK.003-Analyzethebehaviorandmarketeffectsofmonopolies.TOPICS:  MonopoliesKEYWORDS:  BLOOM'S:ComprehensionCUSTOM ID:  003.15.3-MC-MANK084. Deadweightloss a. measuresmonopolyinefficiency. b. exceedsmonopolyprofits. c. 

7、equalsmonopolyprofits. d. equalsmonopolyrevenuesminusprofits.ANSWER:  aCopyrightCengageLearning.PoweredbyCognero.Page 20DIFFICULTY:  EasyLEARNING OBJECTIVES:  ECON.MANK.003-Analyzethebehaviorandmarketeffectsofmonopolies.TOPICS:  M