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Transcript

Econ-40

Start

Which are price makers?

01

Monopoly

Perfect Competition

MonopolisticCompetition

P<AVC

In PC, producing at a loss is when:

02

ATC>P<AVC

P>ATC

Which is an example of Price Discrimination?

03

Price decreases due to an increase in suppliers

Veteran's Discount

PG&E increases prices for summer

Maximum Efficiency

MC=MR is

04

Revenue Maximizing

Profit Maximizing

Many Firms

low barriers of entry

Which is not a characteristic of Mono. Comp.

05

high barriers of entry

use the Dominant Strategy

Maximum Efficiency

Monopolies always have:

06

High prices and low Quantities produced

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