Reference no: EM13183383
1. when comparing a competitive market to a monopolistic market,
A) the monopolistic supply curve is equal to the competitive supply curve
B) the monopolistic marginal cost curve is equal to the competitive supply curve
C)the monopolistic supply curve is equal to the competitive marginal cost curve
D) all of the above are true
2. in equilibrium, a monopolistic market will, compared to a competitive market,
A) produce and charge less
B) produce and charge more
C) produce less and charge more
D) produce more and charge less
3. the net benefit to society of a given unit of a good will be equal to
A) mc + mb
B) mb + mc
C) mb - mc
D) mc - mb
4. the total net benefit to society of a quantity of a good will be
A) equal to the net benefit of the last unit produced
B) less than the net benefit of the last unit produced
C) equal to the average benefit of each unit produced
D) equal to the sum of the net benefits of each unit produced
5. total net benefit to society is maximized when
A) mc = mr
B) mr = mb
C) mc = mb
D) s = d
6. a positive externality occurs when people external to the market
A) receive benefits from the market
B) have positive images of the market
C) pay some of the costs of the market
D) receive some of the payment the sellers receive from the buyers
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