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Large online platform businesses tend to offer their services free to customers because: a. they are seeking to gain widespread popularity so they will be able to restrict output and raise their prices in the future. b. lower revenue results in economic losses which deceives potential competitors into thinking the industry is not profitable. 0 c. most oftheir costs are fixed, so growing as big as possible allows them to take advantage offalling average costs per user and rising advertising revenue. d. high monitoring and communications costs make online payments and subscriptions difficult to track and maintain. Figure 24-21 0 Refer to Figure 24-21. Which of the following is true regarding the monopolist whose cost and demand conditions are depicted? a. Point (1') is the point where marginal cost equals marginal revenue, which is used to find the profit-maximiZing level of output for this monopolist. 0 b. Point (c) is the point along the demand curve that helps us identify the price this monopolist should charge associated with the profit-maximizmg level of output. c. Point (e) is the point where marginal cost equals demand, which is used to find both the prot-maximizing price and output for this monopolist. d. Point (a) is the point that shows the profitrmaxirnizing price for this monopolist, which is the highest price it can charge. Figwe 24-4 Demand R S T U Refer to Figure 24-4. Which of the following is true regarding this monopoly market? a. Ifleft unregulated by government, the monopolist shown would charge a price equal to B to maximize profit. 0 b. The firm shown is a natural monopolyr because ATC falls over the entire relevant range of market demand. c. If a regulatory agency were to impose average cost pricing on this monopolist, it would produce an output of T. d. lfa regulatory agency were to set the price of this monopolist at A, the firm would earn positive economic profits. Figure 24-18 P MC $30 ATC 24 AVC NN D 10 MR 50 100 150 200 117 Refer to Figure 24-18. The total cost for this monopolist, if it maximizes profit, is O a. $3,300 O b. $3,400 O c. $2,808 O d. $2,340