Question: Show all your work for the problems requiring calculations. 1.List the characteristics of a monopoly.Give an example of a firm that would likely be a

Show all your work for the problems requiring calculations.1.List the characteristics of a monopoly.Give an example of a firm that would likely be a monopoly.2.Explain the three types of barriers to entry.Give examples of each.3.Why

Show all your work for the problems requiring calculations.

1.List the characteristics of a monopoly.Give an example of a firm that would likely be a monopoly.

2.Explain the three types of barriers to entry.Give examples of each.

3.Why is a monopoly able to earn an economic profit in the long run?

run? Price Quantity Total Total Revenue Marginal Revenue Marginal Cost (P) demanded

Price Quantity Total Total Revenue Marginal Revenue Marginal Cost (P) demanded Cost (Q) (TC) 18 0 200 15 100 700 12 200 1500 9 300 2600 6 400 4000 3 500 5700Price ( cents per kwh] b IRAC MC 9 D 0 100 200 1300 400 500 MR Quantity (kilo watt hours)

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