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6.If two nations have straight-line production possibilities
6.If two nations have straight-line production possibilities curves: Answer then their trading possibilities curves must lie inside the production possibilities curves. there will be no basis for mutu… read more
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FOR LINDA 31. http //imageshack.us/photo/my-images/853/unledawis.jpg/ 32.
FOR LINDA 31. http://imageshack.us/photo/my-images/853/unledawis.jpg/ 32. http://imageshack.us/photo/my-images/638/unledwsx.jpg/ 33. Authoritative estimates suggest that currently union workers on the… 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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FOR NEO 16. Assume a firm purchases resources a and b under
FOR NEO 16. Assume a firm purchases resources a and b under purely competitive conditions and combines these resources to produce X. Product X is sold in a purely competitive market. The MP of a and b… 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
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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. 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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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. http //imageshack.us/photo/my-images/571/unledolr.jpg/ 22Which
21. http://imageshack.us/photo/my-images/571/unledolr.jpg/ 22Which of the following would not be expected to occur in a purely competitive market in long-run equilibrium? Answer consumer and producer … read more
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16. http //imageshack.us/photo/my-images/543/unledzyr.jpg/ 17.
16. http://imageshack.us/photo/my-images/543/unledzyr.jpg/ 17. http://imageshack.us/photo/my-images/51/unledhar.jpg/ 18. A pure monopolist is selling 6 units at a price of $12. If the marginal revenue… read more
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26. http //imageshack.us/photo/my-images/546/unledmeu.jpg/ 27.
26. http://imageshack.us/photo/my-images/546/unledmeu.jpg/ 27. http://imageshack.us/photo/my-images/42/unledlly.jpg/ 28. http://imageshack.us/photo/my-images/13/unlediqv.jpg/ 29. Extensive network eff… read more
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25. Other things equal, if the prices of a firms variable
25. Other things equal, if the prices of a firm's variable inputs were to fall: Answer one could not predict how unit costs of production would be affected. marginal cost, average variable cost, and a… read more
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16) In the long-run, a profit-maximizing monopolistically competitive
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17. A decrease in demand for a good could mean that (Points
17. A decrease in demand for a good could mean that (Points: 1) consumers are willing to buy larger quantities of the good at each price the demand curve has shifted to the left consumers are willing … read more
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1) If the demand for farm products is price inelastic, a good
1) If the demand for farm products is price inelastic, a good harvest will cause farm revenues to: A. either increase or decrease, depending on what happens to supply. B. be unchanged. C. increase D. … read more
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Joanne, could you please help me with these questions I need
Joanne, could you please help me with these questions? I need them to help me study for my final exam. Thanks! 1. Which of the following taxes is most clearly based on the benefits-received principle … read more
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Which of the following is not a barrier to entry A) economies
Which of the following is not a barrier to entry? A) economies of scale B) X-inefficiency C) patents D) ownership of essential resources 2. If a firm in a purely competitive industry is confronted wit… read more
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