Homework Answers
Solution :- 20
The correct answer is A
A monopolists demand curve is the industry demand curve
The monopolists demand curve is also negatively sloped as the marginal revenue is no longer equal to price.
Solution :- 21
The correct answer is B
that is In perfectly competitive markets no buyer and seller is large enough to influence as there are large number of buyer and seller in perfect competition therefore no single any individual can influence as he is very very small as compared to whole market
Add Answer to:
→ XCIO Question 20 1 pts A monopolist's demand curve is the industry demand curve. of...
Please Help Question 21 0.16 pts Examining the cost, revenue, and demand curves for a monopolistic...
Please Help
Question 21 0.16 pts Examining the cost, revenue, and demand curves for a monopolistic competitor reveals that, at optimal output, the demand curve lies above the average total cost curve. Which of the following is true? O There is economic profit in the long run. Firms will enter the industry in the long run. O There is not enough information because demand is an imperfect benchmark for measuring profitability O There is an economic loss in the long...
Question Completion Status: QUESTION 16 Refer to the above figure. The long-run average cost curve and...
Question Completion Status: QUESTION 16 Refer to the above figure. The long-run average cost curve and the longrun marginal cost curves represent o the cost curves for a natural monopoly o the cost curves for a competitive firm. o a situation where a firm has a patent. o a situation where a firm has control over the raw materials. QUESTION 17 All of the following are true about a monopolist EXCEPT the demand curve for its product is perfectly elastic....
Please help with these questions Question 46 0.4 pts When two goods are complements to each...
Please help with these questions
Question 46 0.4 pts When two goods are complements to each other, the cross-price elasticity will O begin by being positive but becomes negative over time. O be negative. be zero. O be positive. O be unaffected by goods being complements. Question 47 0.4 pts An economist's use of experiments and real-world data to test a theory is an example of the scientific method in economics. O comparative advantage. O normative analysis economic growth. macroeconomics....
om/courses/2456531/quizzes/5192042/take Question 6 1 pts The price elasticity of demand for a completely vertical demand curve...
om/courses/2456531/quizzes/5192042/take Question 6 1 pts The price elasticity of demand for a completely vertical demand curve is unitary elastic O perfectly elastic O elastic O perfectly inelastic 1 pts Question 7 If a 3 percent reduction in the price of a good produces a 5 percent increase in the quantity demanded, the price elasticity of demand over this range of the demand curve is unitary elastic
The demand schedule or curve confronted by the individual purely competitive firm is: 1. relatively elastic,...
The demand schedule or curve confronted by the individual purely competitive firm is: 1. relatively elastic, that is, the elasticity coefficient is greater than unity. 2. perfectly elastic. 3. relatively inelastic, that is, the elasticity coefficient is less than unity. 4. perfectly inelastic. Which of the following is not a characteristic of pure competition? 1. price strategies by firms 2. a standardized product 3. no barriers to entry 4. a larger number of sellers
DQuestion 17 2 pts A firm in a curve. market faces a demand Monopoly; perfectly elastic...
DQuestion 17 2 pts A firm in a curve. market faces a demand Monopoly; perfectly elastic Perfectly competitive; perfectly elastic Perfectly competitive; perfectly inelastic Monopoly; perfectly inelastic
please answer all 3 asap Question 1 3 pts 1. The absolute price elasticity of demand...
please answer all 3 asap
Question 1 3 pts 1. The absolute price elasticity of demand for coffee equals 0.25. This means that: A 1% increase in the price of coffee will cause a 25% decrease in the quantity demanded of coffee A 1% increase in the price of coffee will cause a 25% decrease in the quantity demanded of coffee A1 unit increase in the price of coffee will cause a 0.25 unit decrease in the quantity demanded of...
Question 1 2 pts If demand is price inelastic, then the demand curve is very flat....
Question 1 2 pts If demand is price inelastic, then the demand curve is very flat. buyers respond substantially to a change in price, but the response is very slow. buyers do not respond much to a change in price. buyers do not alter their quantities demanded much in response to advertising. Question 2 2 pts Which of the following is likely to have the most price elastic demand? doctor's visits diamond earrings salt milk Question 3 2 pts Suppose...
The perfectly competitive firm's demand curve is: Perfectly elastic. Relatively elastic Perfectly inelastic. Relatively inelastic Statement...
The perfectly competitive firm's demand curve is: Perfectly elastic. Relatively elastic Perfectly inelastic. Relatively inelastic Statement 1: In the long run, firms in a monopolistically competitive industry will be producing that quantity that maximize social surplus. Statement 2: In the long run, firms in a monopolistically competitive industry will be producing at the minimum of its ATC curve. Statement (1) is true; statement (2) is false. Statements (1) and (2) are both true. Statement (1) is false; statement (2) is...
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...
Please Help
Question 21 0.16 pts Examining the cost, revenue, and demand curves for a monopolistic competitor reveals that, at optimal output, the demand curve lies above the average total cost curve. Which of the following is true? O There is economic profit in the long run. Firms will enter the industry in the long run. O There is not enough information because demand is an imperfect benchmark for measuring profitability O There is an economic loss in the long...
Question Completion Status: QUESTION 16 Refer to the above figure. The long-run average cost curve and the longrun marginal cost curves represent o the cost curves for a natural monopoly o the cost curves for a competitive firm. o a situation where a firm has a patent. o a situation where a firm has control over the raw materials. QUESTION 17 All of the following are true about a monopolist EXCEPT the demand curve for its product is perfectly elastic....
Please help with these questions
Question 46 0.4 pts When two goods are complements to each other, the cross-price elasticity will O begin by being positive but becomes negative over time. O be negative. be zero. O be positive. O be unaffected by goods being complements. Question 47 0.4 pts An economist's use of experiments and real-world data to test a theory is an example of the scientific method in economics. O comparative advantage. O normative analysis economic growth. macroeconomics....
om/courses/2456531/quizzes/5192042/take Question 6 1 pts The price elasticity of demand for a completely vertical demand curve is unitary elastic O perfectly elastic O elastic O perfectly inelastic 1 pts Question 7 If a 3 percent reduction in the price of a good produces a 5 percent increase in the quantity demanded, the price elasticity of demand over this range of the demand curve is unitary elastic
DQuestion 17 2 pts A firm in a curve. market faces a demand Monopoly; perfectly elastic Perfectly competitive; perfectly elastic Perfectly competitive; perfectly inelastic Monopoly; perfectly inelastic
please answer all 3 asap
Question 1 3 pts 1. The absolute price elasticity of demand for coffee equals 0.25. This means that: A 1% increase in the price of coffee will cause a 25% decrease in the quantity demanded of coffee A 1% increase in the price of coffee will cause a 25% decrease in the quantity demanded of coffee A1 unit increase in the price of coffee will cause a 0.25 unit decrease in the quantity demanded of...
Question 1 2 pts If demand is price inelastic, then the demand curve is very flat. buyers respond substantially to a change in price, but the response is very slow. buyers do not respond much to a change in price. buyers do not alter their quantities demanded much in response to advertising. Question 2 2 pts Which of the following is likely to have the most price elastic demand? doctor's visits diamond earrings salt milk Question 3 2 pts Suppose...
The perfectly competitive firm's demand curve is: Perfectly elastic. Relatively elastic Perfectly inelastic. Relatively inelastic Statement 1: In the long run, firms in a monopolistically competitive industry will be producing that quantity that maximize social surplus. Statement 2: In the long run, firms in a monopolistically competitive industry will be producing at the minimum of its ATC curve. Statement (1) is true; statement (2) is false. Statements (1) and (2) are both true. Statement (1) is false; statement (2) is...
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...
Most questions answered within 3 hours.
-
ECO
2013 &
asked 44 seconds from now -
Insight refers to:
a.
Adaptive decision-making
b.
Credibility and trustworthness
c.
Understanding of one's problems
d....
asked 5 minutes ago -
Explain the differences between rights and permissions within
Windows. Define the principle of least privilege and...
asked 13 minutes ago -
A solid, frictionless cylindrical reel of mass M=5.00kg and
radius R=0.55m is used to draw water...
asked 15 minutes ago -
how do radio waves get emitted from Jupiter?
- do they come from radiation from planet...
asked 15 minutes ago -
The test statistic used in the F test for the equality of two
variances is calculated...
asked 27 minutes ago -
How does neutralisation of IL-6 trans-signaling affect the
autoimmune disease and inflammation? What if the trans-signaling...
asked 17 minutes ago -
f an allele is 'fixed' in a population, what is its
frequency?
0.50
0.75
0.25
0...
asked 32 minutes ago -
Do we have a duty of national loyalty in business? What is the
major argument in...
asked 32 minutes ago -
compare the international treatment of segment reporting to the
us gaap treatment
asked 28 minutes ago -
A statistics student finds herself struggling with a newspaper
article stating that only eighteen percent of...
asked 1 hour ago -
People with beriberi, a disease caused by a thiamin deficiency,
have elevated levels of blood pyruvate...
asked 48 minutes ago