Which of the following statements with respect to the monopolist is FALSE?
A) A monopolist can make higher profits if it can price discriminate.
B) A monopoly tends to result in a lower quantity being sold than perfect competition does.
C) Monopoly is a situation in which a single firm dominates.
D) A monopoly arises in a situation with few barriers to entry into the marketplace.
D
You might also like to view...
Refer to Figure 19-7. Which of the following is true?
A) Indian exports to the United States are more expensive at exchange rates greater than $.02/rupee than at the equilibrium exchange rate. B) U.S. imports are more expensive at exchange rates greater than $.02/rupee than at the equilibrium exchange rate. C) To achieve an exchange rate greater than $.02/rupee, the Reserve Bank of India must buy surplus dollars with rupees. D) The rupee is overvalued at exchange rates less than $.02/rupee.
Suppose that for several periods the aggregate demand and supply curves have been intersecting at the same point, and at full employment. Then the central bank increases money growth as a result of an announced policy change
Under the assumption of adaptive expectations the likely short-run result is __________ output and __________ price level. A) rising; a rising B) rising; an unchanged C) unchanged; a rising D) unchanged; an unchanged
If an industry currently has a Herfindahl index of 900 and a merger would raise that to 950, then the Department of Justice would generally
a. challenge the merger because the index would become too large b. challenge the merger because the change in the index is too large c. not challenge the merger because the postmerger index is less than 1,800 d. not challenge the merger if it is a horizontal merger e. challenge the merger if it is a vertical merger
Barter requires:
a. that the exchanged goods be portable. b. that the exchanged goods be durable. c. a coincidence of wants. d. that the exchange medium be divisible. e. an effective middleman.