Sec 15.3 MC The Welfare Cost of Monopoly

Sec 15.3 MC The Welfare Cost of Monopoly

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時間：2019-09-22

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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

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