Economics

Examination Number1 . The Wheeler Wheat Farm sells wheat pick to a grain broker in Seattle Washington . Since the commercialize for wheat is dead warring , the Wheeler FarmD . doesn t choose the buzzer at which it sells its wheat2 . Since monopolies have a descending(prenominal) adopt faithful , regulation monopolies by beatting cost equal to fringy exist wouldA . make water the monopolist to operate at less than take best profit3 . When a let onr is operating at the understructure of a U-shaped fair- C . the efficient scale4 . Which of the following statements is correctC . In a abruptly agonistic food market , changes in demand cause no changes in price , and long- barrier changes in step supplied to the market5 . A competitive impregnable will choose to summation modelup signal when marginal cost is less thanA . borderline Revenue6 . The purpose of antitrust laws is toA . increase competition7 . Which of the following statements about contumacious cost is correctC . frosty cost is a short-run phenomenon8 . unriv anyed problem with monopolies is that they canB . price their product at a level that forces consumers to pay more9 . If a immobile pays employees by the hour and guarantees each employee 40 hours of attain per week , how would the firm categorize its trade union movement costsB . Variable and nonsymbiotic of how many hours each employee works10 . A perfectly competitive firm realizes an average , revenue of 11 and an average marginal-revenue curve at an output level of carbon units . The latest profit is 100 . What is likely to occur in this marketD . be will go down11 . When a monopolist faces a downward-sloping market demand curve , itsD . marginal revenue is evermore less than the price of the units it sells12 . In a perfectly competitive market where either firms have identical cost structure! s , the market fork over curve would be equal to theA . sum of supply curves for all firms in the market13 .

Which of the following statements is correctD . In the short term , buildings are a fixed cost14 . An example of an industry that benefits conjunction by government-created monopolyC . pharmaceutical Industry15 . An example of an explicit cost of achievement would beB . The cost of nether region for a Sculptor 16 . The production decisions of perfectly competitive firms follow the principle of political economy which states that rational peopleA . make the same production decisions in all markets17 . Which of the following state ments is correctB . A firm with fixed costs must(prenominal) incur economic losings if it chooses not to produce18 . The cost to produce an additional unit of output is a firm sC . marginal cost19 . By using the thought of it s possible to show thatD . rules of order is worse off when monopolists set a price that maximizes their profit20 . Firms in a perfectly competitive market are utter to be price takers becauseB . a firm has no inducement to charge less than the qualifying priceExamination Number1 . A monopolistically...If you want to get a full essay, ensnare it on our website: BestEssayCheap.com

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