Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
1. a firm produces at that output at which marginal cost = marginal revenue:1. All of the time2. b. most of the time.3. C. some of the time.4. D. on rare occasions.2. Which statement is true?a. The marginal cost curve is used to determine if a firm is operating at peak efficiency.b. A firm will always try to maximize its total revenue.c. A firm's long-run supply curve is identical to its entire marginal cost curve.d. A firm is operating most efficiently when it is at its break-even point.3. Which statement is true?1. Price is calculated by dividing output by total revenue.2. The lowest point on the short-run supply curve is at the break-even point.3. When price exceeds marginal cost, a profit-maximizing firm will decrease production.4. The marginal cost curve intersects the average total cost curve at the break-even point4. To find the output at which the firm maximizes its profits you must know the firm's:1. ATC.2. AVC.3. AFC.4. MC.5. The monopolist and the perfect competitor differ in that:1. they face different demand curves.2. the monopolist does not always produce at an output in which MC = MR.3. the monopolist is always a big firm.4. the monopolist is more efficient.6. Which statement is true?1. The monopolist operates at the minimum point of her average total cost curve.2. Once a monopoly is set up, it is impossible to dislodge it.3. Monopolies are always big firms.4. Price is always read off the demand curve.7. Which statement is true?1. every monopolists' products have close substitutes.2. Most firms in the United States are monopolies.3. There are no monopolies in the United States.4. A monopoly is a firm that produces every the output in an industry.8. The monopolist is a(n):1. imperfect competitor and has a horizontal demand curve.2. imperfect competitor and has a downward-sloping demand curve.3. perfect competitor and has a horizontal demand curve.4. perfect competitor and has a downward-sloping demand curve.9. Price is always read off the __________ curve.a. mcb. mrc. atcd. demand10. The most efficient output is found:e. where MC and MR cross.f. at the bottom of the ATC curve.g. when the demand and MR curves are equal.h. where the ATC and demand curves cross.11. The basis for monopolistic competition is:1. product differentiation.2. price.3. economies of scale.4. reaching a break-even point.12. __________ is (are) legal in the United States.1. Convert collusion2. cut throat competition3. Cartels4. Price fixing13. A Herfindahl-Hirschman Index of 10,000 would mean there is (are) how many firm(s) in the industry?1. 12. 103. 1004. 100014. The least competitive industry would be one that has:1. price leadership.2. covert collusion.3. overt collusion.4. a cartel.15. Which statement is true?a. The monopolistic competitor always makes a profit in the short run.b. The monopolistic competitor operates at peak efficiency.c. Product differentiation takes place in the minds of the buyers.d. Most consumers would prefer lower prices and less product differentiation.16. Monopolistic competition differs from perfect competition only with respect to:1. the number of firms in the industry.2. product differentiation.3. barriers to entry.4. economies of scale.17. In the long run in monopolistic competition:1. most firms are making a profit.2. the absence of entry barriers ensures that there are no profits.3. economies of scale ensure that there are no profits.4. most firms are losing money.18. Which statement is true?1. Most firms in the United States are monopolistic competitors.2. Most firms in the United States are perfect competitors.3. Most consumers would prefer lower prices and less product differentiation.4. The monopolistic competitor always makes a profit in the short run.19. The closer the industry concentration ratio is to 100, the more likely it is that:1. there are a reasonably big number of medium-sized firms.2. this is an industry approaching perfect competition.3. there is a tiny number of big firms.4. price competition is being practiced.20. Which is the least competitive?1. Overt collusion2. Covert collusion3. Price leadership4. all are equally competitive
Underproduction of Public Goods Suppose point A represents the optimal mix of output-that is, the mix of private and public goods that maximizes society's welfare. Because consumers won't demand purely public goods in the marketplace.
Determine to the extent possible the relative market shares of these firms. Discuss the degree of concentration in the industry using CR4, other n-firm concentration ratios, H-H indices, etc.
The impact of a decrease in the price of memory chips on the market for computers and impact of the government imposing a price ceiling on apartment rents
Joe enjoys fishing & goes out about 20 times per year. One day, Sara told him that fishing is too expensive of a hobby. She thinks he should stop going because she calculated that it costs about %28.75 for every fish he catches because he usually ..
Crew Brew produces a popular brand of beer in its mini-brewery located on a small river in Kentucky. Assume that capital can be purchased for $8 per unit, and labor costs $6 per unit. What is the optimal combination of inputs for the firm to employ..
A price floor is set by the government to protect the producer of the good to which price floor has been attached. There're two possible outcomes for market in price floor setting.
Assume the government sets a price ceiling below the Pe. Plot this price ceiling price on your diagram. What is the new market situation How will it be decided who can buy the quantity supplied of gasoline
The price elasticity of demand for fresh tomatoes has beenestimated to be -2.22. If a new insecticide and fertilizertreatment yields a 20percent increase in the nation's fresh tomatocrop, how will that affect total expenditures on fresh tomatoes
Examine the extent of internal rivalry, entry, substitutes, buyer power, and supplier power within your industry, indicating whether each of these forces represents a high, medium, or low threat to profits.
The data contained in the following table shows the tradeoffs that occur in an economy that produces only two types of products: pharmaceutical and computer-related technological products. Use the data given in the table to graph the production po..
Crew Brew produces a popular brand of beer in its mini-brewery located on a small river in Wisconsin. It uses a special formula, combined with the fresh water from the local stream, to produce a drink popular with local folks and tourists who visi..
Based on the assumption that each family spends $100 plus one-half of its total income each week, what is the total weekly consumption spending of a poor family prior to instituting the tax? What is the total weekly consumption spending of a rich ..
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd