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1. Which of the following is not one of the categories in which to classify managerial ethics?
A) Behaviour toward potential customers
B) Behaviour toward employees
C) Behaviour toward the organization
D) Behaviour toward other economic agents
2. Two conditions must exist: (1) all firms in a given industry should be small (2) the number of firms must be large
A) Monopolistic Competition
B) Perfect Competition
C) A monoply
D) An Oligopoly
3- Gross domestic product (gdp) refers to the total value of goods and services produced by a national economy within a given period regardless of where the factors of production are located. (True or False)
4- Inflation results in increased purchasing power the consumer. (True or False)
The cost of other variable inputs is $2,000 per day. You are told that the firm's fixed cost is high enough so that the firm's total costs exceed its total revenue.
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Suppose a monopolist can purchase Labor at a price w = 36 and can purchase Capital at a price r = 25. The monopolist's production function is given by Q = L1/2K1/2. The demand facing the monopolist is given by P = 180 - 3Q. a) What is the Monopol..
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