The table gives the demand schedule for water bottled by Wanda's Healthy Waters. If Wanda's is a monopoly, what is the range of prices at which it is willing to sell water?

any price over $5 a bottle
$10 a bottle
any price below $5 a bottle
$5 a bottle

If the wage rate that a monopoly has to pay for labor services increases, then its marginal cost curve ______________________.

shifts leftward and so does the marginal revenue curve
and the marginal revenue and average total cost curves shift rightward
shifts leftward and the marginal revenue curve does not change
and the demand curve shift rightward

The table gives the demand schedule for water bottled by Wanda's Healthy Waters. If the marginal cost is a constant $4 a bottle, Wanda's will produce _________ a day and charge ____________ a bottle.

4 bottles; $6
3 bottles; $7
5 bottles; $5
1 bottle; $9

The table gives the demand schedule for water bottled by Wanda's Healthy Waters. Wanda's marginal cost is a constant $4 a bottle. Wanda's makes an economic profit of __________a day.

$12
$0
$21
$9

Roxie's Movie Theatre is the only one in town. The table gives the demand schedule for movies. If Roxie's is a single-price monopoly and the marginal cost of a movie is $6, Roxie's will charge _______ a movie and will sell ______movie tickets a week.

$6; 400
$15; 100
$9; 300
$12; 200

Roxie's Movie Theatre has a monopoly and discovers that at $12 a movie, no one is buying movie tickets during weekdays. Roxie's conducts a survey and the table reveals the results of the survey. Roxie decides to price discriminate between weekend and weekday moviegoers. The marginal cost of a showing a movie is $6. Roxie's charges _________ on weekdays and _____ on weekends.

$6; $18
$9; $15
$6; $15
$9; $12

A monopoly might be more beneficial than a perfectly competitive industry if it _________________.

spends more on advertising
can produce more
never price discriminates
has a bigger incentive to innovate

A natural monopoly that charges the profit-maximizing price will produce ________ output than a _______________.

the same; natural monopoly regulated by a marginal cost pricing rule
a larger; natural monopoly regulated by a marginal cost pricing rule
a smaller; natural monopoly regulated by a marginal cost pricing rule
a more efficient; perfectly competitive industry

Rocky's Mountain Water is a natural monopoly. The government decides to regulate Rocky's Mountain Water by imposing a marginal cost pricing rule. The figure shows the demand for Rocky's Mountain Water. Marginal cost is $0.20 per bottle. The price of a bottle of Rocky's Mountain Water is _________, and ___________ thousand bottles are sold.

$0.20; 300
$0.50; 300
$0.20; 600
$0.50; 150

Natural gas is a natural monopoly. The figure shows the market for natural gas in the city of Lucknow. When an average cost price rule regulation is imposed, the price per household per month is ________.

$20 and the loss per household is $2
$24 and the deadweight loss is $10
$24 and the deadweight loss is $10,000
$20 and 30,000 customers are served

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