What are the principles that guide the government's antitrust policy? (Select all that apply) □ A. The profitability of monopolies B. Lower prices for consumers □ C. The protection of competition D. The control of prices
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- How Monopolies Form Identify an invention and explain how a patent would give a monopoly a. Natural Monopoly b. Control over physical resources c. Legal monopoly d. Promoting innovation with patents ect. e. Intimidating potential competitors f. Network Advantage1. Explain how monopolist in the Philippines are being regulated by the government. 2. Using the power of your observation, list down the business firms that exhibited huge market power in your area. Describe the nature of the business and explain. Why do you think it has a huge market power?What is the primary objective of antitrust laws in the United States? A. Promoting mergers and acquisitions B. Encouraging market consolidation C. Preventing monopolistic behavior and promoting competition D. Regulating international trade
- 48 Which of the following is NOT one of the economic problems of Monopoly? Select one: i of a. Monopolies overprice. b. Monopolies underproduce. c. Monopolies offer consumers less choice. d. Monopolies engage in price discrimination.(Figure: Demand, Revenue, and Cost Curves for Thneeds) Use Figure: Demand, Revenue, and Cost Curves for Thneeds. Thneeds and Things is a monopolist in the thneed ("things we need") market. If the government wants to regulate Thneeds so that an efficient outcome is reached, it would impose a price ceiling of: Price of thneeds $100 90 $40. $46. $50. $65. 80 70 60 50 40 30 20 10 0 20 MR D MC ATC 60 100 140 180 220 Quantity of thneedsAntitrust laws are designed to maintain a competitive market environment by a. eliminating monopolies wherever they exist b. preventing monopolies from generating negative externalities c. limiting practices that increase a firm’s market power d. imposing price ceilings on products produced by monopolies e. making charging a price above marginal cost illegal
- (Figure: Demand, Revenue, and Cost Curves for Thnceds) Use Figure: Demand, Revenue, and Cost Curves for Thneeds. Thneeds and Things is a monopolist in the thneed ("things we need") market. To maximize profit, Thneeds and Things will sell thneeds and at a price of Price of thneeds $100 90 80 70 60 MC ATC 50 40 30 20 MR 10 20 60 100 140 180 220 Quantity of thneeds 70, $65 O b. 100; $50 O c. 120: $40 O d. 150: $462. If the government determines that a natural monopoly must set a price equal to its average cost plus 10%, this is an example of: A. Cost-plus regulation B. Price cap regulation C. Restrictive prices D. Antitrust lawi A monopoly can be identified by a few traits that distinguish it from other market systems. Identify the reasons a monopoly firm sets prices in microeconomics. ii. Monopolistic opponents said that the monopoly power would have a negative social impact. Tell us why. iii Describe THREE (3) qualities or conditions of the perfectly Competitive market structure. A perfectly competitive market has the opposite characteristics or conditions from a monopolistic market.
- Identify monopolist Charlotte's Cookies' profit-maximizing price. Charlotte's Cookies' Profit Schedule Quantity Price Marginal Revenue Marginal Cost Average Cost (Q) (Р) (MR) (MC) (AC) 1 $1000 $1000 $500 $500 $750 $500 $350 $425 $600 $300 $383 $356 $375 3 $300 $275 $450 4. $500 $200 $300 -$500 Select the correct answer below: O S300 S5001. Suppose Pepsi Cola, which includes Mt. Dew and several other sodas, purchased Coca-Cola & Coke’s family of sodas to form one large mega-company. What do you believe would happen to the price of sodas in the United States? 2. What would happen to the remaining smaller suppliers? Use all the information we have learned on Supply & Demand and Market Structure and write about the effects. 3. How could a monopoly impact you as a consumer?monopoly is bad for society because: a. it increase profit for one b. it increases loss for all c. It increases deadweight loss d. It increases loss of consumer welfare but increases producer welfare
