a. Competitive monopoly b. Oligopoly c. Perfect vain d. Every one of the above are species of industry structures.
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a. Perfect competition. b. Monopoly. c. Imperfect competition. d. The sector structure can not be identified from the info given.
If a firm sells its output on a sector that is identified by countless sellers and buyers, a homogeneous product, endless long-run resource mobility, and perfect knowledge, then the for sure is a
If a for sure sells its output on a market that is identified by a solitary seller and also many buyers of a homogeneous product for which there are no close substitutes and also barriers to long-run source mobility, climate the certain is
If a for sure sells its calculation on a sector that is identified by plenty of sellers and also buyers, a identified product, and also unlimited long-run source mobility, then the firm is
If a for sure sells its output on a market that is characterized by few sellers and also many buyers and restricted long-run source mobility, then the firm is
a. Will certainly increase and market price will fall. b. Will certainly increase and market price will rise. c. And also market price will both continue to be constant. d. Will decrease and also market price will certainly rise.
Which that the following markets come close to satisfying the assumptions of a perfectly competitive industry structure?
a. The stock market. b. The sector for farming commodities such together wheat or corn. c. The market for petroleum and natural gas. d. Every one of the over come close come satisfying the assumptions of perfect competition.
A perfectly competitive for sure should reduce output or shut down in the brief run if sector price is equal to marginal cost and also price is
a. Greater than average full cost. b. Less than average total cost. c. Higher than median variable cost. d. Much less than typical variable cost.
The market need curve for a perfectly competitive market is QD = 12 - 2P. The market supply curve is QS = 3 + P. The industry will it is in in equilibrium if
a. The for sure controls the entire supply that a raw material. b. Manufacturing of the industry\"s product is subject to economic climates of range over a broad selection of output. c. Production of the industry\"s product needs a big initial resources investment. d. The certain holds one exclusive federal government franchise.
In the quick run, a monopolist will shut down if that is creating a level that output wherein marginal revenue is equal to short-run marginal cost and also price is
a. Greater than average full cost. b. Much less than average total cost. c. Greater than mean variable cost. d. Less than median variable cost.
a. Earn zero financial profits. b. Produce a level of output wherein short-run marginal price is same to short-run average complete cost. c. Produce a level the output wherein long-run marginal price is same to long-run average cost. d. Every one of the above are correct.
a. Is equal to that part of the short-run marginal cost curve that is over the average variable price curve. b. Is same to that portion of the short-run marginal expense curve that is above the average full cost curve. c. Is same to that section of the short-run average complete cost curve that is above the mean variable price curve. d. Nobody of the over is correct.
a. Is same to that section of the long-run marginal price curve the is over the pertinent short-run median variable price curve. b. Is same to that portion of the long-run marginal cost curve the is above the pertinent short-run average total cost curve. c. Is same to that section of the long-run average total cost curve the is above the relevant short-run typical variable expense curve. d. None of the above is correct.
a. Foreign imports less expensive in the unified States. b. U.S. Exports less expensive in foreign countries. c. The demand for U.S. Exports decrease. d. Every one of the over are correct.
a. Rise if over there is boost in the demand for U.S. Exports by international countries. b. Diminish if there is an increase in the need for international imports by the joined States. c. Decrease if monetary authorities intervene on the foreign exchange market by marketing U.S. Dollars for international currencies. d. Every one of the above are correct.
a. Zero economic profit is earn by the monopolist. b. Manufacturing takes location where price is same to long-run marginal cost and long-run average cost. c. Production takes ar where long-run marginal price is same to marginal revenue and price is not listed below long-run typical cost. d. All of the over are correct.
A monopolist produces 14,000 systems of output and charges $14 per unit. Its marginal revenue is $8, the marginal price is $7 and rising, its average total cost is $10, and its mean variable cost is $9. The monopolist should
a. Boost output, i m sorry will an outcome in rise in the firm\"s positive economic profit. b. Boost output, i m sorry will reduce the firm\"s economic losses. c. Closeup of the door down, i m sorry will reduce the firm\"s economic losses. d. Decrease output, which will an outcome in rise in the firm\"s positive economic profit.
a. A neighborhood telephone company. b. An car manufacturer. c. A restaurant. d. All of the above are likely to it is in monopolistic competitors.
a. A hamburger. b. A shirt. c. An automobile. d. Every one of the over are differentiated products.
a. Few sellers. b. A identified product. c. Easy entry into and also exit native the industry. d. All of the over are qualities of monopolistic competition.
If one imperfectly competitive for sure is developing a level of output whereby marginal cost is same to marginal revenue, marginal revenue is listed below average variable cost, and also price is same to average full cost, climate the firm
a. Must shut down. b. Should decrease output, yet should not shut down. c. Should rise output. d. None of the over is correct.
If an imperfectly competitive for sure is producing a level of output where marginal expense is same to marginal revenue, marginal revenue is below average variable cost, and also price is equal to average total cost, climate the for sure is
a. In long-run equilibrium. b. In short-run equilibrium. c. Minimizing short-run average complete cost. d. Break even.
a. An task undertaken by a for sure to increase demand. b. A problem with quality regulate that tends to decrease demand. c. An activity undertaken by a for sure to do demand more price inelastic. d. No one of the over is correct.
a. The is an overwhelming to define a monopolistically compete market and also to determine the firms and also products that make up it. b. When product differentiation is slight, each firm\"s demand curve is virtually horizontal for this reason the perfect competitive solution gives an sufficient approximation to the monopolistically competitive solution. c. When there are solid brand choices and few producers of countless differentiated products, or when there are countless producers yet only a couple of compete as rivals for any given consumer, climate the oligopoly solution offers an adequate approximation to the monopolistically compete solution. d. Every one of the above are correct.
a. The auto industry b. The steel industry c. The automobile repair sector d. The electric generating sector
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