Homework Answers
"A"
It will keep the output and the price same as long as the marginal cost curve is passing through the gap between the marginal revenue firm.
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Question 11 1.5 pts An increase in marginal cost that remains within the gap of the...
An increase in marginal cost causes a profit-maximizing, monopolistically competitive firm to raise price and...
An increase in marginal cost causes a profit-maximizing, monopolistically competitive firm to raise price and raise output. lower price and lower output. keep price and output the same. raise price and decrease output. lower price and increase output.
Question 18 1.5 pts An oligopolist operating with a kinked demand curve would expect rivals to...
Question 18 1.5 pts An oligopolist operating with a kinked demand curve would expect rivals to match both its price increases and price decreases. True False
Question 22 On the chart below the environment case for the Jones company can be observed....
Question 22 On the chart below the environment case for the Jones company can be observed. The dotted line demonstrates a broad gap between investment (M) in reducing pollution and the benefit gained (MB) by the investment. What scenario does this illustrate, as it relates to the marginal cost of reducing pollution? MC MB Environmental Protection Extensive Pollution Select the correct answer below: A broad separation between marginal cost and marginal benefit curves indicates that there are ways to reduce...
Question 38 1.66 pts Holding all else constant, an increase in the market demand for a...
Question 38 1.66 pts Holding all else constant, an increase in the market demand for a product in a competitive market would cause a decrease in profits for a firm. the average total cost (ATC) curve of the firms to increase. the marginal revenue (MR) curve of the firms to increase. a decrease in the price a firm could charge for the product. the marginal cost (MC) curve of the firms to increase.
1. The following graph depicts the demand curve, marginal revenue curve, and marginal cost curve that...
1. The following graph depicts the demand curve,
marginal revenue curve, and marginal cost curve that an oligopolist
faces. The firm is currently charging the cartel price, P*, and
producing the cartel quantity, Q*.
Suppose input prices fall and marginal cost decreases
from MC1 to MC2. Based on this event alone, the firm depicted in
the figure above will
2. Suppose one rental car company raises its prices
and the rival car companies leave their prices unchanged. But when
another...
Please help with these questions, Question 11 0.16 pts If Firm A is making zero economic...
Please help with these questions,
Question 11 0.16 pts If Firm A is making zero economic profits, Firm A is breaking even when opportunity cost is taken into consideration. O Firm A is also making negative accounting profits. other firms want to enter the market. Firm A wants to shut down in the short run. O Firm A wants to leave the market. Question 12 0.16 pts If firms in a competitive market are making positive economic profits, the long-run...
Question 7 5 pts Let's say that you know the following information for an oligopoly firm:...
Question 7 5 pts Let's say that you know the following information for an oligopoly firm: Total Revenue equals $200 million. Variable Costs are $170 million. Fixed Costs equal $20 million. The firm is currently producing 2,000 products at the MC = MR point (and the MC curve is rising). What recommendation do you have for this firm? Assuming the firm's costs remain the same, the firm should produce fewer products in order to decrease its marginal costs. The profit...
QUESTION 11 Refer to the information provided in Figure 10.2 below to answer the question(s) that...
QUESTION 11 Refer to the information provided in Figure 10.2 below to answer the question(s) that follow. MC, MC Dollars Units of labor Figure 10.2 __the amount of Refer to Figure 10.2. This firm's marginal cost curve has shifted from MC 1 to MCO A profit-maximizing firm should output produced and —_ its demand for labor. o keep constant, increase decrease; decrease increase; increase increase; decrease
Please help Question 12 0.16 pts If firms in a competitive market are making positive economic...
Please help
Question 12 0.16 pts If firms in a competitive market are making positive economic profits, the long-run market supply curve O is above the point where the short-run market supply curve and the demand curve intersect. O shifts downward. O and the short-run market supply curve and the demand curve all intersect at the same point. O shifts upward. O is below the point where the short-run market supply curve and the demand curve intersect. Question 13 0.16...
Question 46 2p Which of the following is true of the profit, earned by a monopolist?...
Question 46 2p Which of the following is true of the profit, earned by a monopolist? Profit is maximized along the inelastic portion of the demand curve. Normal profit is ensured where price is equal to average total cost. Normal profit is ensured where marginal cost exceeds average revenue. Economic profit is made where average variable cost equals marginal revenue. Profit is maximized where marginal revenue exceeds marginal cost. Question 47 2 pts A non-price discriminating monopolist's demand curve: is...
Question 18 1.5 pts An oligopolist operating with a kinked demand curve would expect rivals to match both its price increases and price decreases. True False
Question 22 On the chart below the environment case for the Jones company can be observed. The dotted line demonstrates a broad gap between investment (M) in reducing pollution and the benefit gained (MB) by the investment. What scenario does this illustrate, as it relates to the marginal cost of reducing pollution? MC MB Environmental Protection Extensive Pollution Select the correct answer below: A broad separation between marginal cost and marginal benefit curves indicates that there are ways to reduce...
Question 38 1.66 pts Holding all else constant, an increase in the market demand for a product in a competitive market would cause a decrease in profits for a firm. the average total cost (ATC) curve of the firms to increase. the marginal revenue (MR) curve of the firms to increase. a decrease in the price a firm could charge for the product. the marginal cost (MC) curve of the firms to increase.
1. The following graph depicts the demand curve,
marginal revenue curve, and marginal cost curve that an oligopolist
faces. The firm is currently charging the cartel price, P*, and
producing the cartel quantity, Q*.
Suppose input prices fall and marginal cost decreases
from MC1 to MC2. Based on this event alone, the firm depicted in
the figure above will
2. Suppose one rental car company raises its prices
and the rival car companies leave their prices unchanged. But when
another...
Please help with these questions,
Question 11 0.16 pts If Firm A is making zero economic profits, Firm A is breaking even when opportunity cost is taken into consideration. O Firm A is also making negative accounting profits. other firms want to enter the market. Firm A wants to shut down in the short run. O Firm A wants to leave the market. Question 12 0.16 pts If firms in a competitive market are making positive economic profits, the long-run...
Question 7 5 pts Let's say that you know the following information for an oligopoly firm: Total Revenue equals $200 million. Variable Costs are $170 million. Fixed Costs equal $20 million. The firm is currently producing 2,000 products at the MC = MR point (and the MC curve is rising). What recommendation do you have for this firm? Assuming the firm's costs remain the same, the firm should produce fewer products in order to decrease its marginal costs. The profit...
QUESTION 11 Refer to the information provided in Figure 10.2 below to answer the question(s) that follow. MC, MC Dollars Units of labor Figure 10.2 __the amount of Refer to Figure 10.2. This firm's marginal cost curve has shifted from MC 1 to MCO A profit-maximizing firm should output produced and —_ its demand for labor. o keep constant, increase decrease; decrease increase; increase increase; decrease
Please help
Question 12 0.16 pts If firms in a competitive market are making positive economic profits, the long-run market supply curve O is above the point where the short-run market supply curve and the demand curve intersect. O shifts downward. O and the short-run market supply curve and the demand curve all intersect at the same point. O shifts upward. O is below the point where the short-run market supply curve and the demand curve intersect. Question 13 0.16...
Question 46 2p Which of the following is true of the profit, earned by a monopolist? Profit is maximized along the inelastic portion of the demand curve. Normal profit is ensured where price is equal to average total cost. Normal profit is ensured where marginal cost exceeds average revenue. Economic profit is made where average variable cost equals marginal revenue. Profit is maximized where marginal revenue exceeds marginal cost. Question 47 2 pts A non-price discriminating monopolist's demand curve: is...
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