ECO 561 Course Great Wisdom / tutorialrank.com ECO 561 Course Great Wisdom / tutorialrank.com | Page 34

8.
Unregulated (natural) monopolies maintain their status through
a variety of measures. Whether any particular measure can effectively
constrain new firms from entering the market depends on
9.
Regulated monopolies are empowered by public authority for
which specific reason?
10. Using a significantly greater economy of scale—with attendant
lower, long-run average total costs—to restrict the market entry of
new competitors
11.
In technology-intensive oligopolies—charcterized by
dynamically evolving product design—restricting the entry additional
firms is
12. Whether the market structure is monopolistic or oligopolistic, a
firm may increase consumer demand for its product as an overall
portion of market share if
13.
One difference between firms already established in a
monopolistic competition industry and those attempting to enter it is
that
14. An average firm in an industry characterized by a homogeneous
product, relatively low barriers to entry, and a low concentration ratio
15. A monopolistic firm may operate in a relatively mature market
with little likelihood for significant change in technology or process
efficiencies. To maximize its profits, such a firm might
16. Production differentiation can effectively be achieved by
17. While mass retail industries have one or several dominat
producers, smaller firms have a limited set of nonpricing options. The
most feasible of these inlude