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Consider the following statements.
1. One way the government can induce a monopolist to expand his output is by imposing a price ceiling that make the monopolist lower his price.
2. MC = MR = AC = AR shows the equilibrium position of the competitive firm.
3. One way the government can induce a monopolist to expand his output by imposing a price floor that makes the monopolist raise his price.
4. One way the government can induce a monopolist to expand his output by imposing a specific tax on the monopolist output.
Which of the statement(s) given above is/are correct?
Consider the following statements
1. One way for the government to induce a monopolist to expand his output is by imposing a price ceiling that makes the monopolist lower his price.
2. MC = MR = AC = AR shows the equilibrium position of the competitive firm.
3. One way for the government to induce a monopolist is to make the monopolist raise his price.
4. One way for the government to induce a monopolist is to expand his output by imposing a specific tax on the monopolist output.
In long run equilibrium, the pure monopolist can make pure profits because of
Marginal cost is equal to marginal revenue, average cost is equal to average revenue, average revenue is equal to marginal revenue and average cost is equal to marginal cost. This is the condition of
1. long period equilibrium for a firm under monopoly
2. short period equilibrium for a firm under oligopoly
3. long period equilibrium
4. long period equilibrium for a firm under perfect competitions
Select the correct answer
The marginal cost is equal is to marginal revenue, the average cost is equal to average revenue, average revenue is equal to marginal revenue, and the average cost is equal to marginal cost. This is the condition of
1. Long-period equilibrium for a firm under monopoly.
2. Short-period equilibrium for a firm under oligopoly.
3. Long-period equilibrium
4. Long-period equilibrium for a firm under perfect competition.
In case of short-run equilibrium, a perfectly competitive firm while earning abnormal profits operates at an output level where:
A and B were two partners in a firm sharing profits in 3 ∶ 2. In the year 2015, the profit of the firm was Rs. 10000 which has been duly distributed among A and B. Later on they decided that C, their manager will also be treated as partner in the firm from beginning of year 2015 and will be entitled to 1/6 of the share in the firm. They decided to transfer 10% of the profits to general reserve. Redistribute the profits and find the amount of profit to be provided or taken back from B in new ratio.
Assertion (A): Long run equilibrium of the industry in a perfectly competitive market occurs at the point where price equals minimum long run average cost.
Reason (R): In this position of zero economic profit, there is no tendency on the part of any existing firm to stage an exit, and no potential entrant wants to enter the industry.
Consider the following statements:
1. A profit-maximizing monopolist in different markets will adjust his sales in the two markets to just equal his MC.
2. A profit-maximizing monopolist in separate market will not adjust his sales.
3. A profit-maximizing monopolist in separate markets will adjust his sales.
4. A profit-maximizing firm in separate markets will adjust his sales in each market so that his MR is less than Me.
Consider the following statements.
1. A profit maximising monopolist in different markets will adjust his sales in the two markets, so that his MR in each market just equals his MC.
2. A profit maximising monopolist in separate markets will not adjust his sales.
3. A profit maximising monopolist in separate markets will adjust his sales in the two markets, so that his MR in each market will greater than MC.
4. A profit maximising firm in separate markets will adjust his sales in each market so, that his MR is less than MC.
Which of the statement(s) given above is/are correct?