A successful price-discriminating firm must be able to: The output of a (not per

Question

A successful price-discriminating firm must be able to: The output of a (not perfect) price-discriminating monopoly will be: If a perfectly competitive firm cams a profit of SI000 per year and faces CRTS in production, which of the following is true? Which of the following is NOT an assumption of perfect competition?: A perfectly competitive firm equating marginal cost with price should keep on operating until: If the two assumptions of profit maximization and freedom of entry and exit arc satisfied, then in the long run each firm will operate where: A rational monopolist will not operate at a point where the price elasticity of demand is: A monopolist will discontinue production if:

Explanation / Answer

35) d-- do all the above. 36) b more than single price monopoly but less than perfect competetive industry. 1)d) it will make no profits at all in the long run as many firms enter the market. 2) d... each firm faces down ward demand curve. For perfect competetion, market faces the downwards sloping demand curve and individual firm faces a perfectly elastic demand curve. 3) b total revenue greater than variable costs, here Avergae revenue which is equal to Price should be above AVC. 4) c in long run firm operates where long run ATC is minimum. 9) a it does not operate below 1. less than 1 where the price elsaticcity is inelastic the MR curve cuts the y-axis and moves into the negative region giving losses to the firm beyond the unit elastic point. So it operates above 1 or equal to 1. 10) d if price is less than AVC.

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