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teachergreg 41. In the monopoly market structure, new firms
teachergreg 41. In the monopoly market structure, new firms (Points : 1) cannot profitably enter the industry, even in the long run may freely enter and leave the industry in both the short run and th… read more
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FOR LINDA 21. There is some evidence to suggest that X-inefficiency
FOR LINDA 21. There is some evidence to suggest that X-inefficiency is: Answer absent whenever two or more producers are competing with one another. not encountered in either competitive or monopolist… read more
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1. http //imageshack.us/photo/my-images/194/unledieb.jpg/ 2.
1. http://imageshack.us/photo/my-images/194/unledieb.jpg/ 2. If at the MC = MR output, AVC exceeds price: Answer new firms will enter this industry. the firm should produce the MC = MR output and real… read more
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6. An important similarity between a monopolistically competitive
6. An important similarity between a monopolistically competitive firm and a purely competitive firm is that: Answer both face perfectly elastic demand schedules. economic profit tends toward zero for… read more
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21. Monopolistic competition resembles pure competition because Answer both
21. Monopolistic competition resembles pure competition because: Answer both industries emphasize nonprice competition. in both instances firms will operate at the minimum point on their long-run aver… read more
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17. http //imageshack.us/photo/my-images/225/unledrkn.jpg/ 18.
17. http://imageshack.us/photo/my-images/225/unledrkn.jpg/ 18. http://imageshack.us/photo/my-images/543/unledwdm.jpg/ 19. Assume a firm closes down in the short run and produces no output. Under these… read more
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11. One would expect that collusion among oligopolistic producers
11. One would expect that collusion among oligopolistic producers would be easiest to achieve in which of the following cases? Answer a rather large number of firms producing a differentiated product … read more
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16. The loss of a purely competitive firm which shuts down
16. The loss of a purely competitive firm which shuts down in the short run: Answer is equal to its total variable costs. is zero. is equal to its total fixed costs. cannot be determined. 17. A compet… read more
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6. http //imageshack.us/photo/my-images/841/unledzpla.jpg/ 7.
6. http://imageshack.us/photo/my-images/841/unledzpla.jpg/ 7. http://imageshack.us/photo/my-images/845/unledokk.jpg/ 8. In the short run, a purely competitive firm will earn a normal profit when: Answ… read more
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1. http //imageshack.us/photo/my-images/717/unledvsu.jpg/ 2.
1. http://imageshack.us/photo/my-images/717/unledvsu.jpg/ 2. If a pure monopolist can engage in price discrimination: Answer the marginal revenue curve and the total revenue curve will now coincide. t… read more
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11. On a per unit basis economic profit can be determined as
11. On a per unit basis economic profit can be determined as the difference between: Answer marginal revenue and product price. product price and average total cost. marginal revenue and marginal cost… read more
Linda_us
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26. http //imageshack.us/photo/my-images/263/unledbn.jpg/ 27.
26. http://imageshack.us/photo/my-images/263/unledbn.jpg/ 27. http://imageshack.us/photo/my-images/192/unledpan.jpg/ 28. An industry comprised of 40 firms, none of which has more than 3 percent of the… read more
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I have a set of Economic questions. I will post individually
I have a set of Economic questions. I will post individually so you get credit for each one. They are multiple choice. Help please… read more
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Which of the following is not necessarily a characteristic
Which of the following is not necessarily a characteristic of perfect competition? (Points: 1) low prices a large number of buyers and sellers a homogeneous product perfect information 2. In the short… read more
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1. Patent laws reduce incentive to innovate by restricting
1. Patent laws reduce incentive to innovate by restricting market entry reduce incentive to innovate by making it difficult to use the patented innovation increase incentive to innovate by restricting… read more
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16) In the long-run, a profit-maximizing monopolistically competitive
16) In the long-run, a profit-maximizing monopolistically competitive firm sets it price: A. equal to marginal revenue. B. equal to marginal cost. C. above marginal cost. D. below marginal cost. 17) A… read more
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1. Which of the following is not necessarily a characteristic
1. Which of the following is not necessarily a characteristic of perfect competition? (Points: 1) low prices a large number of buyers and sellers a homogeneous product perfect information 2. In the sh… read more
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Joanne, could you check to see if my answers are correct Thank
Joanne, could you check to see if my answers are correct? Thank you very much! 1. Patent laws a.reduce incentive to innovate by restricting market entry b. reduce incentive to innovate by making it di… read more
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