Which of the Following Must Be True in Order for a State

question 10

Multiple Choice

Which of the following must be true in order for a state of equilibrium to exist?

• A) all linear forces acting on the object must be balanced, torques may be unbalanced
• B) all torques acting on the object must be balanced, linear forces may be unbalanced
• C) neither torques nor linear forces acting on the object must equal zero
• D) the sum of all forces and torques acting on the object must equal zero

Describe the conditions for effective price discrimination in monopoly.

Understand the relationship between demand elasticity and monopolist's pricing decisions.

Recognize the implications of patents and monopolistic barriers to entry on firm behavior and market structure.

Assess the role of natural monopoly attitudes towards pricing policies and their impact on economic profits.