Define minimum efficient scale of production

Assignment Help Microeconomics

Reference no: EM13174104

1. When a firm is no longer able to reduce its long run average cost by expanding, it has achieved its minimum efficient scale of production

a. True

b. False

2. A monopoly is likely to charge a higher price than an otherwise similar competitive industry would be

a. True

b. False

3. legislation that benefits many individuals at the expense of a few is a natural outcome of representative democracy

a. True

b. False

4. A natural monopoly, such as the local telephone company is characterized by

a. a lack of natural competitors

b. low fixed costs and diseconomies of scale

c. economies of scale

d. a lack of government regulation

e. constant costs of production

5. Government attempts to prohibit monopolization of a market are known as

a. antitrust regulation

b. economic regulation

c. social regulation

d. anticoompetitive regulation

e. Herfindahl regulation

6. which of the following is the best example of a vertically integrated firm

a. general electric which produces light bulbs, jet engines, washing machines, and so on

b. kinko's which has a photocopy store near many colleges and univesities

c. usx corporation which owns ore and coal mines, coke ovens, blast furnaces, mills, and foundries

d. intel which makes computer chips for most of the coomputer manufacturers

e. century 21 which has real estate offices that help people sell a house in one city and buy another house in another city

Reference no: EM13174104

Questions Cloud

Compute the molarconcentration of oxygen : calculate the molarconcentration of oxygen in water at 25 celsius for a partialpressure of 0.23 atm. the henry's law constant for oxygen

Family and religion were two elements of slave community : Family and religion were the two major elements of the slave community. Describe the function each played in the community, and determine if either or both weakened or strengthened the institution of slavery.

Which of following can be broken down into simpler substance : By definition, which of the following can be broken down into simpler substances?

Calculate the equilibrium ph of a solution : Calculate the equilibrium pH of a solution containing 5x10^-4 M Na2CO3 and 5X10^-4 M NaHCO3.

Define minimum efficient scale of production : When a firm is no longer able to reduce its long run average cost by expanding, it has achieved its minimum efficient scale of production. legislation that benefits many individuals at the expense of a few is a natural ..

Compute the van''t hoff factor for the cacl2 : urea at 25c are 0.605 atm and 0.245 amt respectively. calculate the van't hoff factor for the CaCl2.

What is the osmotic pressure of the solution : 18.6 grams of a solute with moecular mass of 8940 grams are dissolved in enough water to make 1.00 dm^3 of solution at 25 ^0C. What is the osmotic pressure of the solution?

State water is an endothermic process : Dissolving NH4NO3 in water is an endothermic process. In fact, this reaction is often used in cold packs sold at the drug store. When 23.8 g of NH4NO3 was rapidly dissolved in 79.5 mL of water in a coffee cup calorimeter,

Slave system : Slaves filled many roles within the slave system. Compare and contrast the roles played and lives led by the field worker, the house servant, and the artisan. Did any of the three fare better than the others under the slave system? Why or why not?

User Account

All Pages