{"id":78087,"date":"2021-12-01T02:34:04","date_gmt":"2021-12-01T02:34:04","guid":{"rendered":"https:\/\/papersspot.com\/blog\/2021\/12\/01\/question-1-a-monopoly-occurs-when-there-are-barriers-entering-the-market\/"},"modified":"2021-12-01T02:34:04","modified_gmt":"2021-12-01T02:34:04","slug":"question-1-a-monopoly-occurs-when-there-are-barriers-entering-the-market","status":"publish","type":"post","link":"https:\/\/papersspot.com\/blog\/2021\/12\/01\/question-1-a-monopoly-occurs-when-there-are-barriers-entering-the-market\/","title":{"rendered":"Question 1: A monopoly occurs when there are barriers entering the market."},"content":{"rendered":"<p>Question 1: <\/p>\n<p> A monopoly occurs when there are barriers entering the market. List 3 types of these barriers with explanation and example. (1 Mark)<\/p>\n<p> Fill the following table for a monopolist firm. (1 Mark)<\/p>\n<p> Marginal revenue<\/p>\n<p> Total revenue<\/p>\n<p> Output<\/p>\n<p> Price<\/p>\n<p> 0<\/p>\n<p> $100<\/p>\n<p> 1<\/p>\n<p> $85<\/p>\n<p> 2<\/p>\n<p> $70<\/p>\n<p> 3<\/p>\n<p> $55<\/p>\n<p> 4<\/p>\n<p> $40<\/p>\n<p> 5<\/p>\n<p> $25<\/p>\n<p> Draw the demand curve and the marginal revenue curve for the above table. And explain the relationship between the marginal revenue and the price. (1 Mark) <\/p>\n<p> Question 2. <\/p>\n<p> Explain the effects of low price-guarantee on the price. (1 Mark)<\/p>\n<p> Give reasons, when average cost increases as the total output increases for an increasing cost industry. (1 Mark)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Question 1: A monopoly occurs when there are barriers entering the market. List 3 types of these barriers with explanation and example. (1 Mark) Fill the following table for a monopolist firm. (1 Mark) Marginal revenue Total revenue Output Price 0 $100 1 $85 2 $70 3 $55 4 $40 5 $25 Draw the demand [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[10],"class_list":["post-78087","post","type-post","status-publish","format-standard","hentry","category-research-paper-writing","tag-writing"],"_links":{"self":[{"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/posts\/78087","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/comments?post=78087"}],"version-history":[{"count":0,"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/posts\/78087\/revisions"}],"wp:attachment":[{"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/media?parent=78087"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/categories?post=78087"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/tags?post=78087"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}