Reference no: EM13986846
Firms have excess capacity in the long run under: (A) oligopoly (B) cartel (C) monopolistic competition (D) none of these
The firm that uses a price taker is: (A) monopolistic competition (B) cartel (C) perfect competition (D) oligopoly
Inelastic long run market demand is very important for this type of industry to survive and do well in the long run: (A) monopolistic competition (B) cartel (C) perfect competition (D) oligopoly
In the long run, which type of firm may follow "price leadership"? (A) oligopoly (B) monopoly (C) cartel (D) monopolistic competition
Increasing marginal returns occurs in some production functions because? (A) some input being fixed (B) specialization labor (C) rising profits (D) none of these
Firms in an oligopoly may: (A)have a larger market shares (B) do a lot of advertising (C) follow price leadership (D) all of these are true
One condition that IS true for perfect competition but IS NOT true for monopolistic competition is: (A) homogeneous products (B) many small sellers (C) free entry and exit (D) perfect information
Under perfect competition, in the long run, firms: (A) sell at equal price to marginal cost (B) make zero profits (C) produce the maximum technical efficiency output level (D) all of these are true
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Midpoint method-elasticity of labor supply between wages
: Juanita is a college student who lives in Miami and provides math tutoring for extra cash. At a wage of $40 per hour, she is willing to tutor 7 hours per week. At $50 per hour, she is willing to tutor 10 hours per week. Using the midpoint method, the..
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CORN market as a result of the government mandate
: Assume you are a farmer who grows corn and cotton. In the past, you have planted half of your land in corn and half in cotton. In recent years, the government has mandated that gasoline contain 10% ethanol (fuel made from corn). Which of the followin..
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To combat the problem of adverse selection
: To combat the problem of adverse selection, __________ informed parties can employ ___________ techniques.
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Example of adverse selection
: Which of the following is NOT an example of adverse selection
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Price leadership-the firm that uses a price taker is
: Firms have excess capacity in the long run under: The firm that uses a price taker is: In the long run, which type of firm may follow "price leadership"? Under perfect competition, in the long run, firms:
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Different in interpretation of coefficient in SLRM and MLRM
: What is the different between interpretation of coefficient in SLRM and MLRM? How does it relate to omitted variable bias? How about a linear versus nonlinear multiple regression model coefficients? (quadratic). What is the role of controls?
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Example of controlling risk
: Which of the following is NOT an example of controlling risk?
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Decides to offer employees medical insurance administered
: A company with 100 employees decides to offer its employees medical insurance administered by a major health company, but funded totally by the employer—i.e., it self-insurance. The CEO is furious with his HR director who told him that, given their h..
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Process designed to combat moral hazard problems
: Which of the following is NOT an example of a process designed to combat moral hazard problems?
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