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The general view of economists is that a pure monopoly will not be technologically progressive

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journal article

Natural Monopoly and Its Regulation

Stanford Law Review

Vol. 21, No. 3 (Feb., 1969)

, pp. 548-643 (96 pages)

Published By: Stanford Law Review

https://doi.org/10.2307/1227624

https://www.jstor.org/stable/1227624

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Journal Information

Founded in 1948, the Stanford Law Review is a general-interest academic legal journal. Each year the Law Review publishes one volume, which appears in six separate issues between November and May. Each issue contains material written by student members of the Law Review, other Stanford law students, and outside contributors, such as law professors, judges, and practicing lawyers. Approximately 2,600 libraries, attorneys, judges, law firms, government agencies, and others subscribe to the Law Review. The Law Review also hosts lectures and an annual live symposium at Stanford Law School.

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The Stanford Law Review is operated entirely by Stanford Law School students and is fully independent of faculty and administration review or supervision. The principal missions of the Law Review are to contribute to legal scholarship by addressing important legal and social issues, and to educate and foster intellectual discourse at Stanford Law School. In addition to producing a publication, the Law Review also hosts lectures and an annual live symposium.

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The general view of economists is that a pure monopoly will not be technologically progressive
1
The general view of economists is that a pure monopoly will not be technologically progressive
The general view of economists is that a pure monopoly will not be technologically progressive

The pure monopolist produces a product for which there are no close substitutes.
The general view of economists is that a pure monopoly will not be technologically progressive
A)
The general view of economists is that a pure monopoly will not be technologically progressive
True
The general view of economists is that a pure monopoly will not be technologically progressive
B)
The general view of economists is that a pure monopoly will not be technologically progressive
False
The general view of economists is that a pure monopoly will not be technologically progressive
2
The general view of economists is that a pure monopoly will not be technologically progressive
The general view of economists is that a pure monopoly will not be technologically progressive

The weaker the barriers to entry into an industry, the more competition there will be in the industry, other things equal.
The general view of economists is that a pure monopoly will not be technologically progressive
A)
The general view of economists is that a pure monopoly will not be technologically progressive
True
The general view of economists is that a pure monopoly will not be technologically progressive
B)
The general view of economists is that a pure monopoly will not be technologically progressive
False
The general view of economists is that a pure monopoly will not be technologically progressive
3
The general view of economists is that a pure monopoly will not be technologically progressive
The general view of economists is that a pure monopoly will not be technologically progressive

In pure monopoly, there are strong barriers to entry.
The general view of economists is that a pure monopoly will not be technologically progressive
A)
The general view of economists is that a pure monopoly will not be technologically progressive
True
The general view of economists is that a pure monopoly will not be technologically progressive
B)
The general view of economists is that a pure monopoly will not be technologically progressive
False
The general view of economists is that a pure monopoly will not be technologically progressive
4
The general view of economists is that a pure monopoly will not be technologically progressive
The general view of economists is that a pure monopoly will not be technologically progressive

A monopolist may create an entry barrier by price cutting or substantially increasing the advertising of its product.
The general view of economists is that a pure monopoly will not be technologically progressive
A)
The general view of economists is that a pure monopoly will not be technologically progressive
True
The general view of economists is that a pure monopoly will not be technologically progressive
B)
The general view of economists is that a pure monopoly will not be technologically progressive
False
The general view of economists is that a pure monopoly will not be technologically progressive
5
The general view of economists is that a pure monopoly will not be technologically progressive
The general view of economists is that a pure monopoly will not be technologically progressive

The monopolist can increase the sales of its product if it charges a lower price.
The general view of economists is that a pure monopoly will not be technologically progressive
A)
The general view of economists is that a pure monopoly will not be technologically progressive
True
The general view of economists is that a pure monopoly will not be technologically progressive
B)
The general view of economists is that a pure monopoly will not be technologically progressive
False
The general view of economists is that a pure monopoly will not be technologically progressive
6
The general view of economists is that a pure monopoly will not be technologically progressive
The general view of economists is that a pure monopoly will not be technologically progressive

As a monopolist increases its output, it finds that its total revenue at first decreases, and that after some output level is reached, its total revenue begins to increase.
The general view of economists is that a pure monopoly will not be technologically progressive
A)
The general view of economists is that a pure monopoly will not be technologically progressive
True
The general view of economists is that a pure monopoly will not be technologically progressive
B)
The general view of economists is that a pure monopoly will not be technologically progressive
False
The general view of economists is that a pure monopoly will not be technologically progressive
7
The general view of economists is that a pure monopoly will not be technologically progressive
The general view of economists is that a pure monopoly will not be technologically progressive

A purely competitive firm is a price taker but a monopolist is a price maker.
The general view of economists is that a pure monopoly will not be technologically progressive
A)
The general view of economists is that a pure monopoly will not be technologically progressive
True
The general view of economists is that a pure monopoly will not be technologically progressive
B)
The general view of economists is that a pure monopoly will not be technologically progressive
False
The general view of economists is that a pure monopoly will not be technologically progressive
8
The general view of economists is that a pure monopoly will not be technologically progressive
The general view of economists is that a pure monopoly will not be technologically progressive

A monopolist will avoid setting a price in the inelastic segment of the demand curve and prefer to set the price in the elastic segment.
The general view of economists is that a pure monopoly will not be technologically progressive
A)
The general view of economists is that a pure monopoly will not be technologically progressive
True
The general view of economists is that a pure monopoly will not be technologically progressive
B)
The general view of economists is that a pure monopoly will not be technologically progressive
False
The general view of economists is that a pure monopoly will not be technologically progressive
9
The general view of economists is that a pure monopoly will not be technologically progressive
The general view of economists is that a pure monopoly will not be technologically progressive

The monopolist determines the profit-maximizing output by producing that output at which marginal cost and marginal revenue are equal and sets the product price equal to marginal cost and marginal revenue at that output.
The general view of economists is that a pure monopoly will not be technologically progressive
A)
The general view of economists is that a pure monopoly will not be technologically progressive
True
The general view of economists is that a pure monopoly will not be technologically progressive
B)
The general view of economists is that a pure monopoly will not be technologically progressive
False
The general view of economists is that a pure monopoly will not be technologically progressive
10
The general view of economists is that a pure monopoly will not be technologically progressive
The general view of economists is that a pure monopoly will not be technologically progressive

The supply curve for a monopolist is the up-sloping portion of the marginal cost curve that lies above the average variable cost.
The general view of economists is that a pure monopoly will not be technologically progressive
A)
The general view of economists is that a pure monopoly will not be technologically progressive
True
The general view of economists is that a pure monopoly will not be technologically progressive
B)
The general view of economists is that a pure monopoly will not be technologically progressive
False
The general view of economists is that a pure monopoly will not be technologically progressive
11
The general view of economists is that a pure monopoly will not be technologically progressive
The general view of economists is that a pure monopoly will not be technologically progressive

A monopolist will charge the highest price it can get.
The general view of economists is that a pure monopoly will not be technologically progressive
A)
The general view of economists is that a pure monopoly will not be technologically progressive
True
The general view of economists is that a pure monopoly will not be technologically progressive
B)
The general view of economists is that a pure monopoly will not be technologically progressive
False
The general view of economists is that a pure monopoly will not be technologically progressive
12
The general view of economists is that a pure monopoly will not be technologically progressive
The general view of economists is that a pure monopoly will not be technologically progressive

A monopolist seeks maximum total profits, not maximum unit profits.
The general view of economists is that a pure monopoly will not be technologically progressive
A)
The general view of economists is that a pure monopoly will not be technologically progressive
True
The general view of economists is that a pure monopoly will not be technologically progressive
B)
The general view of economists is that a pure monopoly will not be technologically progressive
False
The general view of economists is that a pure monopoly will not be technologically progressive
13
The general view of economists is that a pure monopoly will not be technologically progressive
The general view of economists is that a pure monopoly will not be technologically progressive

Pure monopoly guarantees economic profits.
The general view of economists is that a pure monopoly will not be technologically progressive
A)
The general view of economists is that a pure monopoly will not be technologically progressive
True
The general view of economists is that a pure monopoly will not be technologically progressive
B)
The general view of economists is that a pure monopoly will not be technologically progressive
False
The general view of economists is that a pure monopoly will not be technologically progressive
14
The general view of economists is that a pure monopoly will not be technologically progressive
The general view of economists is that a pure monopoly will not be technologically progressive

Resources are misallocated by monopoly because price is not equal to marginal cost.
The general view of economists is that a pure monopoly will not be technologically progressive
A)
The general view of economists is that a pure monopoly will not be technologically progressive
True
The general view of economists is that a pure monopoly will not be technologically progressive
B)
The general view of economists is that a pure monopoly will not be technologically progressive
False
The general view of economists is that a pure monopoly will not be technologically progressive
15
The general view of economists is that a pure monopoly will not be technologically progressive
The general view of economists is that a pure monopoly will not be technologically progressive

One of the economic effects of monopoly is the transfer of income from consumers to the owners of the monopoly.
The general view of economists is that a pure monopoly will not be technologically progressive
A)
The general view of economists is that a pure monopoly will not be technologically progressive
True
The general view of economists is that a pure monopoly will not be technologically progressive
B)
The general view of economists is that a pure monopoly will not be technologically progressive
False
The general view of economists is that a pure monopoly will not be technologically progressive
16
The general view of economists is that a pure monopoly will not be technologically progressive
The general view of economists is that a pure monopoly will not be technologically progressive

When there are substantial economies of scale in the production of a product, the monopolist may charge a price that is lower than the price that would prevail if the product were produced by a purely competitive industry.
The general view of economists is that a pure monopoly will not be technologically progressive
A)
The general view of economists is that a pure monopoly will not be technologically progressive
True
The general view of economists is that a pure monopoly will not be technologically progressive
B)
The general view of economists is that a pure monopoly will not be technologically progressive
False
The general view of economists is that a pure monopoly will not be technologically progressive
17
The general view of economists is that a pure monopoly will not be technologically progressive
The general view of economists is that a pure monopoly will not be technologically progressive

The purely competitive firm is more likely to be affected by X-inefficiency than a monopolist.
The general view of economists is that a pure monopoly will not be technologically progressive
A)
The general view of economists is that a pure monopoly will not be technologically progressive
True
The general view of economists is that a pure monopoly will not be technologically progressive
B)
The general view of economists is that a pure monopoly will not be technologically progressive
False
The general view of economists is that a pure monopoly will not be technologically progressive
18
The general view of economists is that a pure monopoly will not be technologically progressive
The general view of economists is that a pure monopoly will not be technologically progressive

Rent-seeking expenditures that monopolists make to obtain or maintain monopoly privilege have no effect on the firm's costs.
The general view of economists is that a pure monopoly will not be technologically progressive
A)
The general view of economists is that a pure monopoly will not be technologically progressive
True
The general view of economists is that a pure monopoly will not be technologically progressive
B)
The general view of economists is that a pure monopoly will not be technologically progressive
False
The general view of economists is that a pure monopoly will not be technologically progressive
19
The general view of economists is that a pure monopoly will not be technologically progressive
The general view of economists is that a pure monopoly will not be technologically progressive

The general view of economists is that a pure monopoly is efficient because it has strong incentives to be technologically progressive.
The general view of economists is that a pure monopoly will not be technologically progressive
A)
The general view of economists is that a pure monopoly will not be technologically progressive
True
The general view of economists is that a pure monopoly will not be technologically progressive
B)
The general view of economists is that a pure monopoly will not be technologically progressive
False
The general view of economists is that a pure monopoly will not be technologically progressive
20
The general view of economists is that a pure monopoly will not be technologically progressive
The general view of economists is that a pure monopoly will not be technologically progressive

One general policy option for a monopoly that creates substantial economic inefficiency and is long lasting is to directly regulate its prices and operation.
The general view of economists is that a pure monopoly will not be technologically progressive
A)
The general view of economists is that a pure monopoly will not be technologically progressive
True
The general view of economists is that a pure monopoly will not be technologically progressive
B)
The general view of economists is that a pure monopoly will not be technologically progressive
False
The general view of economists is that a pure monopoly will not be technologically progressive
21
The general view of economists is that a pure monopoly will not be technologically progressive
The general view of economists is that a pure monopoly will not be technologically progressive

Price discrimination occurs when a given product is sold at more than one price and these price differences are not justified by cost differences.
The general view of economists is that a pure monopoly will not be technologically progressive
A)
The general view of economists is that a pure monopoly will not be technologically progressive
True
The general view of economists is that a pure monopoly will not be technologically progressive
B)
The general view of economists is that a pure monopoly will not be technologically progressive
False
The general view of economists is that a pure monopoly will not be technologically progressive
22
The general view of economists is that a pure monopoly will not be technologically progressive
The general view of economists is that a pure monopoly will not be technologically progressive

A discriminating monopolist who can segment its market based on elasticity of demand will charge a higher price to the customers with a less elastic demand and a lower price to customers with a more elastic demand.
The general view of economists is that a pure monopoly will not be technologically progressive
A)
The general view of economists is that a pure monopoly will not be technologically progressive
True
The general view of economists is that a pure monopoly will not be technologically progressive
B)
The general view of economists is that a pure monopoly will not be technologically progressive
False
The general view of economists is that a pure monopoly will not be technologically progressive
23
The general view of economists is that a pure monopoly will not be technologically progressive
The general view of economists is that a pure monopoly will not be technologically progressive

The regulated utility is likely to make an economic profit when price is set to achieve the most efficient allocation of resources (P = MC).
The general view of economists is that a pure monopoly will not be technologically progressive
A)
The general view of economists is that a pure monopoly will not be technologically progressive
True
The general view of economists is that a pure monopoly will not be technologically progressive
B)
The general view of economists is that a pure monopoly will not be technologically progressive
False
The general view of economists is that a pure monopoly will not be technologically progressive
24
The general view of economists is that a pure monopoly will not be technologically progressive
The general view of economists is that a pure monopoly will not be technologically progressive

A fair-return price for a regulated utility would have price set to equal average total cost.
The general view of economists is that a pure monopoly will not be technologically progressive
A)
The general view of economists is that a pure monopoly will not be technologically progressive
True
The general view of economists is that a pure monopoly will not be technologically progressive
B)
The general view of economists is that a pure monopoly will not be technologically progressive
False
The general view of economists is that a pure monopoly will not be technologically progressive
25
The general view of economists is that a pure monopoly will not be technologically progressive
The general view of economists is that a pure monopoly will not be technologically progressive

The dilemma of monopoly regulation is that the production by a monopolist of an output that causes no misallocation of resources may force the monopolist to suffer an economic loss.
The general view of economists is that a pure monopoly will not be technologically progressive
A)
The general view of economists is that a pure monopoly will not be technologically progressive
True
The general view of economists is that a pure monopoly will not be technologically progressive
B)
The general view of economists is that a pure monopoly will not be technologically progressive
False

Are pure monopolies productively efficient?

A monopolist may or may not be productively efficient; it depends on whether it is producing at a point where ATC is at the minimum point. Productive efficiency means least-cost and this occurs where ATC is at its minimum point. In general, monopolies are not productively efficient.

Which would be defining characteristics of pure monopoly?

A pure monopoly is a single seller in a market or sector with high barriers to entry such as significant startup costs whose product has no substitutes.

What is a pure monopoly quizlet?

a pure, or absolute, monopoly is an industry in which a single firm is the sole producer of a specific food or the sole supplier of a service; the firm and the industry are synonyms. no close substitutes. a pure monopoly's product is unique in that there are no close substitutes.

Which of the following are the main characteristics of a pure monopoly quizlet?

The main characteristics of a pure monopoly , Correct Unavailable are a single seller, no close substitutes, a price maker, blocked entry, and non-price competition.

general view economists pure monopoly technologically progressive

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