PLEASE HELP! I REALLY NEED A GOOD GRADE ON THIS!

1.

(04.01 MC) Saturn Unlimited sells vials of asteroid dust. At its current production level, its marginal revenue is lower than the demand curve. This means that (2 points)

	the firm is experiencing economic losses
	the firm has market power
	the firm is not producing at its profit-maximizing quantity
	an increase in the firm's output will increase its profits
	the firm is productively efficient

2.

(04.01 MC) Koel is the single producer of home air conditioners in its rural market. The firm's monthly demand is described by the equation P = 5000 5Q, where P is the price and Q is the quantity of units sold. Which of the following must be true of Koel? (2 points)

	An increase in price decreases the quantity sold.
	It is a natural monopoly.
	A decrease in price decreases the quantity sold.
	Higher levels of output bring in increasingly lower total revenue if demand is elastic.
	Maintaining the current price decreases the quantity sold over time.

3.

(04.02 MC) Which of the following characteristics are unique to the monopoly market structure? (2 points)

	Market power
	Persistent economic profits
	Marginal revenue beneath demand
	Economies of scale
	An insurmountable barrier to entry

4.

(04.02 MC) Use the graph to answer the question that follows. (2 points)

Price MC H AC M P L N AR G MR O Quantity Q1 (units)$22 MC $20 $18 $16 $14 $12 Price $10 $8 $6 $4 Demand $2 MR 10 20 30 40 50 60 70 80 90 100 Quantity