1 when a firm is no longer able to reduce its long run

Reference no: EM13377240

1. When a firm is no longer able to reduce its long run average cost by expanding, it has achieved its minimum efficient scale of production

a. True

b. False

2. A monopoly is likely to charge a higher price than an otherwise similar competitive industry would be

a. True

b. False

3. legislation that benefits many individuals at the expense of a few is a natural outcome of representative democracy

a. True

b. False

4. A natural monopoly, such as the local telephone company is characterized by

a. a lack of natural competitors

b. low fixed costs and diseconomies of scale

c. economies of scale

d. a lack of government regulation

e. constant costs of production

5. Government attempts to prohibit monopolization of a market are known as

a. antitrust regulation

b. economic regulation

c. social regulation

d. anticoompetitive regulation

e. Herfindahl regulation

6. which of the following is the best example of a vertically integrated firm

a. general electric which produces light bulbs, jet engines, washing machines, and so on

b. kinko's which has a photocopy store near many colleges and univesities

c. usx corporation which owns ore and coal mines, coke ovens, blast furnaces, mills, and foundries

d. intel which makes computer chips for most of the coomputer manufacturers

e. century 21 which has real estate offices that help people sell a house in one city and buy another house in another city

Reference no: EM13377240

Questions Cloud

Welform reform1 what happens to the number of people on : welform reform1. what happens to the number of people on welfare since 1994? what explains the change over

Business behavior and public policy1 define market power : business behavior and public policy1. define market power and then discuss the rationale for government regulation of

In the text we considered a sequential move game in which : in the text we considered a sequential move game in which an entrant was considering entering an industry in

1 a special interest group cannot impose its will on the : 1. a special interest group cannot impose its will on the majority because the perceived costs and benefits from

1 when a firm is no longer able to reduce its long run : 1. when a firm is no longer able to reduce its long run average cost by expanding it has achieved its minimum

Barron chemical uses a thermoplastic polymer to enhance the : barron chemical uses a thermoplastic polymer to enhance the appearance of certain rv panels. the initial cost of one

A chemical engineer is considering two styles of pipes for : a chemical engineer is considering two styles of pipes for moving distillate from a refinery to the tank farm. a small

For the bakfirn corporation an accounting audit of accounts : for the bakfirn corporation an accounting audit of accounts payable vendor invoices and inventory material acceptance

1 when the government increases taxes to provide : 1. when the government increases taxes to provide traditional public goods such national security there tends to bea.

User Account

All Pages