Which of the following is not a source of monopoly?
a. technologies that allow each of many small firms to produce at the same per-unit costs as one large firm
b. patents
c. control of crucial inputs
d. government licensing requirements
a
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Monica grows coconuts and catches fish. Last year she harvested 1500 coconuts and 600 fish. She values one fish as having a worth of three coconuts
She gave Rachel 300 coconuts and 100 fish for helping her to harvest coconuts and catch fish, all of which were consumed by Rachel. In terms of fish, Monica's income would equal A) 700 fish. B) 900 fish. C) 1100 fish. D) 2700 fish.
Suppose Cournot duopolist firms operate with each having a cost of 30qi (i = 1,2 ) so that each firm's marginal cost is 30. The inverse market demand curve is P = 120 - Q where Q = q1 + q2. Suppose there were no barriers to entry and firms continued to enter so long as there were positive economic profits. At the Nash-Cournot equilibrium, the price, P, is
A) 30. B) 45. C) 60. D) 90.