Question
Which of the following statements is correct for the
monopolist?Solution
Due to significant barriers to entry, a monopolist is not threatened by new competitors. Therefore, it can sustain supernormal profits in the long run, unlike firms in perfect competition which earn only normal profits in the long run. It does not “always” earn profit (it could make losses if costs are too high), it does not necessarily charge the “highest possible price” (it charges the profit-maximizing price), and it is generally less production efficient than a perfectly competitive firm due to a lack of competition.
Pepsico Company engaging in tomato procurement directly from farmers is an example of
The length of estrous cycle of sheep is _____
Which nematode is known as cyst nematode?
Rotting of stem at ground level disease is known as
The stage of a lake's life cycle is characterized by a shallow, warmer body of water with abundant nutrients supporting significant plant and animal pop...
The decline in the value of asset due to usage, accidental damage and time obsolescence is called
When should the pruning of plum trees ideally be performed?
Banana is exported to gulf area. India export maximum banana to which among the following Arabian country?
What type of inflorescence does rice have?
The ratio of quantity of water actually stored in the root zone of the crop to the quantity delivered to the plot is termed as:
