ECON 2010U Lecture Notes - Lecture 11: Natural Monopoly, Rent-Seeking, Economic Rent
Document Summary
Use the figure below to answer the following question: _______ This single-price monopoly produces ________ units per day and charges a price of per unit. 5) ______: b) c) d) e) , the pursuit of wealth by capturing economic rent, is illegal in canada, is price discrimination, is rent seeking, creates a legal monopoly, creates a natural monopoly, _______ If the light grey area shows the consumer surplus, and the dark grey area shows the producer surplus, which graph correctly represents this market: (a) b) (b) c) (c) d) (d) e) (b) and (d) Figure 13. 3. 3: ______, eabh, abd e) kea, consider the revenue and cost curves in figure 13. 3. 3. Figure 13. 4. 2: _____, 60 tickets, 20 tickets, 80 tickets, 100 tickets, refer to figure 13. 4. 2. How many tickets are sold: 40 tickets. Figure 13. 4. 6: _____, prime pharmaceuticals has developed a new asthma medicine, for which it has a patent.
