ECON 101 Saudi Electronic University Economics Worksheet

Question Description

I’m working on a economics project and need an explanation and answer to help me learn.

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Question 1:
a. A monopoly occurs when there are barriers entering the market. List 3 types of these
barriers with explanation and example.
b. Fill the following table for a monopolist firm.
Price
$100
$85
$70
$55
$40
$25
c.
Output
0
1
2
3
4
5
Total revenue
Marginal revenue
Draw the demand curve and the marginal revenue curve for the above table. And explain
the relationship between the marginal revenue and the price.
Question 2.
a. Explain the effects of low price-guarantee on the price.
b. Give reasons, when average cost increases as the total output increases for an increasing
cost industry.

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Explanation & Answer:
2 Questions 150 Words Each

Tags:
economics

Marginal Revenue

increasing cost industry

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