question archive 1)The production of Microsoft Office is an example of _____
1)The production of Microsoft Office is an example of _____
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1)The production of Microsoft Office is an example of _____.
a. monopoly
b. oligopoly
c. imperfect competition
d. perfect competition
e. public goods market
2)The _____ means that the government can regulate a natural monopoly to minimize deadweight loss without forcing the private firm out of the market.
a. marginal cost pricing rule,
b. average cost pricing rule,
c. total cost pricing rule,
d. fixed cost pricing rule,
e. variable cost pricing rule.
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1)The correct option is a. monopoly
Explanation: Microsoft office is the first of its kind and rules its market. It is an example of a monopoly because there are no other sellers in the market of Microsoft, and it leads the market with its products and huge customer base. That is why; we can say that Microsoft Office is a pure example of a Monopoly competitive market.
2)Option a. marginal cost pricing rule is correct.
In this rule, the firms set the price in such a way that it is equivalent to the additional cost incurred by increasing every unit of output.
