Answer to Question #183416 in Microeconomics for james

Question

QUESTION 20

The monopolist is not seeking to maximize revenue:

1. But rather to minimize costs.
2. But instead to earn the highest possible profit.
3. But instead to benefit society most.
4. All of the above.
5. None of the above. 

QUESTION 21

A monopolist often does not have enough information to analyze:

1. Its competitors.
2. The law.
3. Its entire total revenue curve.
4. Its entire total cost curve.
5. Both answers C and D above.

QUESTION 22

A monopolist can sell a larger quantity:

1. Only if the government makes a special allowance.
2. Even when the government prohibits it.
3. And see an increase in total revenue.
4. And see a decline in total revenue.
5. Coupons, but not the product it produces.

Answer 1

20.The monopolist is not seeking to maximize revenue:

ANSWER;

But instead to earn the highest possible profit.

21.A monopolist often does not have enough information to analyze:

ANSWER;

It's entire total cost curve.

22.A monopolist can sell a larger quantity :

ANSWER;

And see a decline in total revenue.