Please help me with my micro economics assignments i tried to do some of them but i am not sure if i am right or wrong. A market served by only one firm is called a(n): A) perfectly competitive market. B) monopoly. C) oligopoly. D) Any of the above could be correct.   2. A firm that has market power has the ability: A) to affect the price of its own product. B) to conduct illegal activities without fear of prosecution. C) to command consumer to buy any quantity from them. D) to drive its competition out of the market.   3. Which of the following is NOT a characteristic of a monopoly? A) There is only one seller. B) A monopolist is a price-taker. C) There exist barriers to entry. D) A monopolist's sales revenue is constrained by the market demand.   4. Which of the following is an example of a barrier to entry? A) A firm is open for business only at certain hours of the day, and has its doors locked at other times. B) The government grants licenses to taxicab drivers, without which it is illegal to operate a taxicab. C) A newspaper sells advertising space to businesses. D) lack of a Web site   5. Facebook is a social networking Web site that is used by a growing number of individuals. Because of its popularity, it is now more difficult for new networking websites to enter and compete with Facebook. Facebook enjoys ________ as a barrier for others to enter the market. A) a network externality B) price discrimination C) a negative externality D) economies of scale   6. Table 10.1   Refer to Table 10.1, which shows the relationship between the price that Gladys charges for a product and the quantity of that product that Gladys sells. The total revenue that Gladys receives from selling four units of output is: A) $4. B) $6. C) $10.  D) $24.    7. Refer to Table 10.1, which shows the relationship between the price that Gladys charges for a product and the quantity of that product that Gladys sells. The marginal revenue that Gladys receives from selling the fourth unit of output is: A) $3. B) $6. C) $10. D) $24.   8. Refer to Table 10.1, which shows the relationship between the price that Gladys charges for a product and the quantity of that product that Gladys sells. Gladys' marginal revenue becomes negative starting with the production of which unit? A) 2 B) 4 C) 6 D) None of the above; marginal revenue is always positive or zero.   9. Which of the following best characterizes the tradeoff faced by a monopolist when deciding what quantity to produce? A) The firm can increase its output, but needs to lower its price for only the marginal unit of output. B) The firm can increase its output, but to do so it must charge a higher price to all customers. C) The firm gets more revenue from new customers by increasing output, but gets less revenue from existing customers given that it lowered its price. D) The firm gets less revenue from new customers by increasing output, but gets more revenue from existing customers given that it lowered its price.   10. When a monopolist sells two units of output its total revenues are $100. When the monopolist sells three units of output its total revenues are $120. When the monopolist sells three units of output, the price per unit is: A) $6.67. B) $20. C) $33.33. D) $40.   11. If a monopolist charges the same price for all of the units of the good that it sells, then beyond the first unit sold: A) P = MR because the firm maximizes profit. B) P = MR because the monopolist holds price constant. C) P < MR because the monopolist must decrease price on all units in order to sell another unit. D) P > MR because the monopolist must decrease price on all units in order to sell another unit.   12. How do monopoly prices and quantities produced differ from perfectly competitive outcomes, all other things equal? A) Monopoly prices and quantities are both lower than competitive outcomes. B) Monopoly prices and quantities are both higher than competitive outcomes. C) Monopoly prices are lower than competitive prices but monopoly quantities are higher than competitive quantities. D) Monopoly prices are higher than competitive prices but monopoly quantities are lower than competitive quantities.   13. A monopolist maximizes profits by setting the quantity where: A) marginal revenue equal to marginal cost. B) marginal revenue greater than marginal