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Discussion: Characteristics of pure monopoly

Mar 2, 2022 | Business Finance - Economics | 0 comments

Mar 2, 2022 | Business Finance - Economics | 0 comments

Discussion: Characteristics of pure monopoly

1) List the five characteristics of pure monopoly.
2) Describe the demand curve facing a pure monopoly and how it differs from that facing a firm in a purely competitive market.
3) Explain why the marginal revenue is equal to the price in pure competition but not in monopoly.
4) Use the chart to solve the following:
Calculate the Marginal Cost at Q 100?
Calculate the Marginal Cost at Q 200?
Calculate the Marginal Cost at Q 300?
Calculate the Average Total Cost at Q 100?
Calculate the Average Total Cost at Q 200?
Calculate the Average Total Cost at Q 300?
 
Q
P=D
TC
0
$10.00
$1,000
100
$20.00
$2,500
200
$30.00
$4,500
300
$40.00

$7,500

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