UNT ECON 1100 EXAM 2 REVIEW 2026 VERIFIED QUESTIONS WITH ACCURATE ANSWERS

UNT ECON 1100 EXAM 2 REVIEW
2026 VERIFIED QUESTIONS WITH
ACCURATE ANSWERS
◉ Characteristics of Monopoly.
Answer: 1. Market demand curve = monopoly demand curve
2. Demand does not equal MR (2 diff curves)
3. Price-setter: firm has control over price of goods
4. Barriers to entry


◉ 4 examples of monopolies.
Answer: 1.patents/copyrights
2. own scarce resources
3. licensing requirements
4. economies of scale


◉ MR = MC.
Answer: go upward to MC curve, from quantity on Monopolies curve


◉ Total Revenue.
Answer: Price x Quantity


◉ Total Cost.
Answer: ATC x Q; use thr atc from the given MR=MC quantity

, ◉ Economic Profit.
Answer: TR-TC


◉ Losses in Monopolies.
Answer: same as perfect competition
P > AVC continue and P< AVC shut down


◉ Monopolies for Long Run.
Answer: positive economic profit due to barriers to entry
- Price above ATC (profit made)
-monopolies are inefficient bc MB > MC


◉ Price discrimination in monopolies.
Answer: charging different groups, different prices for the same goods


◉ Calculate Total Revenue w/ price discrimination.
Answer: add up the price, in respect to the quantities given to get TR.
Ex: Q= 4; 6+7+8+9= 30.


◉ Governments response to Monopolies.
Answer: A. Regulation
B. Antitrust laws