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1. a firm produces at that output at which marginal cost
1. a firm produces at that output at which marginal cost = marginal revenue: 1. of the time. 2. b. most of the time. 3. C. some of the time. 4. D. on rare occasions. 2. Which statement is true? a. 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 LINDA 11. Answer the next question(s) on the basis of
FOR LINDA 11. Answer the next question(s) on the basis of the following information. Assume that if the interest rate that businesses must pay to borrow funds were 20 percent, it would be unprofitable… read more
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FOR NEO 6. http //imageshack.us/photo/my-images/97/unlednqa.jpg/ 7.
FOR NEO 6. http://imageshack.us/photo/my-images/97/unlednqa.jpg/ 7. A firm is hiring the profit-maximizing amount of an input when: Answer AVC = MC. MP = MRC. MRC = MR. MRP = MRC. 8. http://imageshack… read more
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Neo
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11. http //imageshack.us/photo/my-images/840/unledjm.jpg/ 12.
11. http://imageshack.us/photo/my-images/840/unledjm.jpg/ 12. If the long-run average total cost curve of an industry is declining at the point where it intersects the industry demand curve, we can ex… read more
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Neo
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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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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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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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1. When a monopolistically competitive firm is in long-run
1. When a monopolistically competitive firm is in long-run equilibrium: Answer production takes place where ATC is minimized. marginal revenue equals marginal cost and price equals average total cost.… read more
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6. http //imageshack.us/photo/my-images/593/unledvcv.jpg/ 7.
6. http://imageshack.us/photo/my-images/593/unledvcv.jpg/ 7. Pure monopoly means: Answer any market in which the demand curve to the firm is downsloping. a standardized product being produced by many … read more
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Bizhelp
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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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Bizhelp
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21. http //imageshack.us/photo/my-images/808/unledwwn.jpg/ 22.
21. http://imageshack.us/photo/my-images/808/unledwwn.jpg/ 22. There is some evidence to suggest that X-inefficiency is: Answer absent whenever two or more producers are competing with one another. no… read more
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Linda_us
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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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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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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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1. a firm produces at that output at which marginal cost
1. a firm produces at that output at which marginal cost = marginal revenue: 1. of the time. 2. b. most of the time. 3. C. some of the time. 4. D. on rare occasions. 2. Which statement is true? a. The… read more
getsetgo
getsetgo
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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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SK
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