Microeconomics

In which of the following situations would the quantity supplied to the market increase? A price ceiling

(Not Correct) above the unregulated monopolist price, but above the firm's average total cost for a natural monopoly. (Not Correct) above the competitive equilibrium price in a competitive market.

Refer to Figure 15-3. A profit-maximizing monopoly's profit is equal to

(P3 - P0) x Q2

Refer to Figure 15-6. To maximize its profit, a monopolist would choose which of the following outcomes?

100 units of output and a price of $20 per unit

The socially efficient level of production occurs where the marginal cost curve intersects which of the following curves?

Demand

Refer to Figure 15-3. A profit-maximizing monopoly's total cost is equal to

P0 x Q2.

Refer to Figure 15-3. A profit-maximizing monopoly's total revenue is equal to

P3 x Q2.

Which of the following statements is correct?

The deadweight loss caused by monopoly is similar to the deadweight loss caused by a tax on a product.

The social cost of a single-price monopoly is equal to its

dead weight loss.

The defining characteristic of a natural monopoly is

economies of scale over the relevant range of output.

A monopolist produces (that can not price discriminate)

less than the socially efficient quantity of output, but at a higher price than in a competitive market.