What is NOT a common reason for the development of a monopoly? options: All other answers are in fact reasons for monopoly - so none of them is correct A patent Being very good, way better than others, in producing the good (for example, Google in search) Government created monopolies
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What is NOT a common reason for the development of a
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All other answers are in fact reasons for monopoly - so none of them is correct |
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A patent |
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Being very good, way better than others, in producing the good (for example, Google in search) |
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Government created monopolies |
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- When does a company officially become a monopoly? a. when it controls more than 25 percent of the output of a certain product b. when the government decides the company is a threat to the national economy c. when a company controls the output for a marketable product without meaningful competition d. when a company controls more than 50 percent of the output of a productWhich of the following is not an artificial barrier to entry into a monopoly market? Answers: A. Patent B. Economies of scale C. Legal harassment D. Bundling productsIs a monopoly always bad for society? Question 6 options: None of the other answers is correct Yes. Monopoly is always bad Monopoly is not bad if its owner gives back to society in charity No. For example, patents on medications create monopolies, and increase the price and reduce the quantity sold, but without them, no one would take the high costs of developing new drugs and the quantity will be... zero!
- Google dominates online search options and advertising. Some contend Google is a monopoly. First, consider competition and answer these questions: Is Google protected by a barrier to entry, and If so, which barrier(s)? Is there a viable substitute for Google? Second, consider whether Google is a monopoly or not. How does Google’s control of the market influence market price and market quantity? If Google is a monopoly, how would breaking up affect the market price and market quantity? How do we test these hypotheses?Review the graph at right. Monopoly What is the unregulated monopoly price? $ 60 (enter your response as a whole number) 100- 90- What is the unregulated monopoly output? 30 (enter your response as a whole number) MC 80- The total unregulated welfare (CS + PS) is $1800 (round your answer to the nearest penny) 70- 60- What is the optimal monopoly regulated price? $(enter your response as a whole number) 50- The total regulated welfare (CS + PS) is $. (round your answer to the nearest penny) 40- TMCE$30 30- 20- 10- 0- 10 Q#3 MR 20 30 40 50 60 70 80 90 100 Quantity O stv DEC 20 MacBook Air DII F10 FB F3 F4 FS F2 F1 # % & 1 2 3 4 5 7 8 9 { T Y P Q W E G H J K A > C V B command option tion command .. .- D.What is NOT a common reason for the development of a monopoly? Question 2 options: All other answers are in fact reasons for monopoly - so none of them is correct A patent Being very good, way better than others, in producing the good (for example, Google in search) Government created monopolies
- A patent effectively allows a firm to operate as a monopoly while the patent is in effect. Some people argue that the market power created by patents harms consumers and shouldn't be granted. Others argue that patents are needed to encourage research and innovation. You can read the article from Forbes to learn more about the history and policy surrounding patents. Classify the arguments below as either arguments for patents or arguments against patents. Arguments For Patents Arguments Against Patents Answer Bank prevents free-riding encourages higher prices for consumers prevents competition in the market research results in a positive externality for society leads to an ineffient level of productionA natural monopoly is most likely to occur in which of the following industries? Group of answer choices a. the pharmaceutical industry because the development and approval of new drugs through the Food and Drug Administration can take more than 10 years b. the diamond mining and marketing industry because one firm can control a key resource c. the software industry because of the importance of network externalities d. an industry where fixed costs are very large relative to variable costsWriting at least 400 words, give an example of a government-created monopoly. Is creating this monopoly necessarily bad public policy? Explain.
- Review the graph at right. Monopoly 100- What is the unregulated monopoly price? $ (enter your response as a whole number) 90- MC What is the unregulated monopoly output? (enter your response as a whole 80 number) 70- P=$00 60- The total unregulated welfare (CS + PS) is $- (round your answer to the nearest penny) 50- 40 What is the optimal monopoly regulated price? $ (enter your response as a whole number) MCE$30 30- 20 The total regulated welfare (CS + PS) is $. (round your answer to the nearest penny) FQ=30 MR 50 60 70 80 90 100 Quantity 10 20 30 40 20 tv MacBook Air 80 DII DD F2 F3 F4 F6 F7 F8 F9 F10 F11 @ %23 2$ 2 3 4 8 { W E Y U P S D F G н J K > C V N M and command opti .. .- • V BIs a monopoly always bad for society? a. No. For example, patents on medications create monopolies, and increase the price and reduce the quantity sold, but without them, no one would take the high costs of developing new drugs and the quantity will be... zero! b.Monopoly is not bad if its owner gives back to society in charity. c.Yes, Monopoly is always bad d. None of the other answers is correctWhich of the following is likely a monopoly? a.All other answers are correct b. The Beatles (in being able to legally produce Beatles cds) c.A grocery store in a small town that has only 2 stores. It is a snowy and cold day , and the stores are located in opposites sides of the town. Driving to the other side to buy at the other store is then dangerous and uncomfortable. d.Microsoft - in the operating system market Which one ??
