Reference no: EM13798034
1. Which of the following would shift a supply curve in a perfectly competitive market for a good?
A. a change in the number of buyers
B. a change in input prices
C. a change in price of a consumption complement
D. a change in the good's price
2. Which of the following would not occur in the short run if a binding price floor were raised in perfectly competitive market?
A. an increase in total surplus
B. a decrease in consumer surplus
C. a decrease in the quantity actually traded
D. an increase in gap between quantity demanded and quantity supplied
3. What is price discrimination?
A. selling products that are similar to, but not exactly the same as a competitor's products
B. selling the same product to different consumers at different prices
C. selling a good at a price above marginal cost
D. selling a good at a price above average variable cost
4. Assume that the wholesale skim milk market is perfectly competitive. Suppose demand is described by P=5.10-0.80Q and supply is described by P=1.90+0.20Q. If there are no price controls, what would be the equilibrium quantity? (Answers must be within 0.10 of the actual value to be counted as correct.)
|
Relationships between companies and customers
: Choose one emerging trend in customer service and discuss how it is impacting the relationships between companies and customers.
|
|
Homeland security
: Explain the process of doing a research paper; and how will the research be conducted for a ten page paper on homeland security
|
|
Whom these goods and services are produced
: Apple has chosen to have the components for the iPhone manufactured by more than 30 companies around the world, as opposed to producing everything itself. Address the three basic economic questions: How does this choice determine what, how, and for w..
|
|
What are the four stages of the business cycle
: What are the four stages of the business cycle? In which stage do you believe the U.S economy is now? Why? What is the gross domestic product? What is its relationship to productivity? What are the effects of inflation on an economy? What are the eff..
|
|
Supply curve in a perfectly competitive market for a good
: Which of the following would shift a supply curve in a perfectly competitive market for a good? Which of the following would not occur in the short run if a binding price floor were raised in perfectly competitive market? What is price discrimination..
|
|
Create maximum impact in an explosion
: In order to create maximum impact in an explosion, there needs to be the exact stoichiometric amount of oxygen available at the time of detonation. How many grams of oxygen gas do I need in order to combine with exactly 10.5 kg of butane (C4H10) gas?..
|
|
Write and balance the full chemical equation
: Write and balance the full chemical equation for the reaction between lead (II) nitrate and manganese (IV) chloride.
|
|
Characteristic of monopolistic competition
: Which of the following is not an example of a barrier to entry? If a single firm monopolizes the market for rice then. Which of the following is a characteristic of monopolistic competition? Which of the following product markets is best described by..
|
|
Hydrogen chloride
: 0.70g of hydrogen chloride (HCl) is dissolved in water to make 6.0L of solution. What is the pH of the resulting hydrochloric acid solution?0.85 g of sodium hydroxide (NaOH) pellets are dissolved in water to make 8.0 L of solution. What is the pH of ..
|