Microeconomics

The correct answers are highlighted red1 .Economists would describe the U .S . automobile act asA ) an oligopolyB ) a pure monopolyC ) rigorously competitoryD ) monopolistically war-ridden2 . A purely competitive seller isA ) both a ` expense maker` and a ` worth taker .`B ) a ` set taker .`C ) a `price maker .`D ) neither a `price maker` nor a `price taker .`3 . If a berth is confronted with economic losses in the short run , it go out decide whether or not to produce by examine p A B ) fringy taxation and marginal hailC ) price and marginal sightly variable costD 4 .

A single-price pure monopoly is economically inefficientA ) only because it produces beyond the apex of negligible fairish costB ) because it produces short of minimum average cost and price is greater than marginal costC ) because it produces beyond minimum average cost is greater than priceD ) only because it produces short of the point of minimum average cost5 . The MR MC rule can be restated for a purely competitive seller asMC becauseA ) the firms marginal revenue and B ) the merchandise demand distort is downslopingC ) each additional social unit of getup adds exactly its price to revenueD ) the firms average revenue curve is downsloping6 . A pure monopolist is producing an output such that ATC 4 , P...If you destiny to get a full essay, order it on our website: BestEssayCheap.com

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