Question

King Graduate School of Monroe College Sample final exam 1. The chemical industry hal chemical industry has a lemer index of 0.67. Based on this information, a firm with marginal cost of Sio i ndex of 67 should charge a price of: A. $30.30 B. $14.93 C. $6.70 D. $3.30. 2. The source(s) of monopoly power for a monopoly may be: A. economies of scale. B. economies of scope. C. patents. D. All of the statements associated with this question are correct. 3. By the property of "more is better," the consumer views the products under consideration as: A. goods. B. bads C. inferior goods. D normal. 4. The budget set defines the combinations of good X and Y that: A are desirable to the consumer. B. are affordable to the consumer. C. maximize the consumer's utility. D. maximize the supplier's profit. 5. If income increases, the budget line: A. shifts to the right. B. shifts to the left C. rotates clockwise. D. rotates counterclockwise. 6. Given the benefit function B(Y) - 4007-2Y, the marginal benefit is: A. 200Y B. 400 - 2Y C. 400 - 4Y. D. 800-2Y 7. Other things equal, the greater the interest rate: A. the lower the NPV. B. the higher the NPV. C. the higher the PV. D. None of the statements associated with this question are correct

Answer 1

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