Reference no: EM131112356
1. Which demand curve would best represent a monopolistic competitor?
A. D1
B. D2
C. D3
D. None of these curves represent a monopolistic competitor.
2. If demand curve D2 represents a monopolistic competitor and demand curve D3 represents a monopoly, then
A. the monopolist has a more elastic demand curve than the monopolistic competitor.
B. the monopolistic competitor has a more elastic demand curve than the monopolist.
C. the monopolist and the monopolistic competitor have identical elasticity in their demand curves.
D. None of these choices are true.
3. If demand curve D2 represents a monopolistic competitor and demand curve D1 represents a perfect competitor, then
A. the perfect competitor has a more elastic demand curve than the monopolistic competitor.
B. the monopolistic competitor has a more elastic demand curve than the perfect competitor.
C. the perfect competitor and the monopolistic competitor have identical elasticity in their demand curves.
D. None of these choices are true.
4. Statement I. The airlines often engage in price discrimination.
Statement II. Price discrimination occurs when a seller charges two or more prices for the same good or service.
A. Statement I is true and statement II is false.
B. Statement II is true and statement I is false.
C. Both statements are true.
D. Both statements are false.
|
What do you think about the supply-siders ideas
: What do you think about the Supply-Siders ideas? Do you think supply side policy could fix the economy? Describe how Supply Siders want to use policy tools and how it would work. P.S. If you previously said that you thought another school of thought ..
|
|
Lower than the growth rate of the labor force
: Suppose that the economy is initially in a steady state and that some of the nation’s capital stock is destroyed because of a natural disaster or a war. Determine the long-run effects of this on the quantity of capital per worker and on output per wo..
|
|
Sticky prices in oligopoly markets are
: If your competitors will follow your price cuts and ignore price hikes, your firm. Sticky prices in oligopoly markets are. Each of the following is a legal barrier to entry into an industry except
|
|
In the malthusian model-long-run steady state
: In the Malthusian model, suppose that there is a technological advance that reduces death rates. Using diagrams, determine the effects of this in the long-run steady state and explain your results.
|
|
Demand curve would best represent monopolistic competitor
: Which demand curve would best represent a monopolistic competitor? If demand curve D2 represents a monopolistic competitor and demand curve D1 represents a perfect competitor, then. If demand curve D2 represents a monopolistic competitor and demand ..
|
|
Suppose the amount of exports of textile machinery
: Suppose the amount of exports of textile machinery from Italy to the rest of the world equals 60 billion tons. The amount of imports of textile machinery into Italy from the rest of the world is 40 billion tons. Therefore, the intra industry trade sh..
|
|
Confidence falls as result of bursting housing market
: Suppose consumer confidence falls as a result of a bursting housing market. How is this factor change likely to affect the IS and/or the LM curve? In response to this factor change, describe optimal fiscal policy.
|
|
What does the is curve represent
: Develop the IS curve using the Keynesian Cross diagram in tandem with investment demand. How does an increase in government spending affect the position of the IS curve? How does an increase in the real interest rate affect the position of the IS cur..
|
|
Service contract for maintenance on equipment will cost
: A land development company is considering the purchase of earth-moving equipment. The equipment will have a first cost of $190,000 and a salvage value of $70000 when he company sells it in 10 years. A service contract for maintenance on the equipment..
|