Even complicated and confusing topics will be easily developed and covered if you request our help writing an essay. Place an order today!

1.Question :All but which one of the following are true of monopolistic competition?

 

 Student Answer: 

MR = MC 

 

  P>MC 

 

  

 AR = MR 

 

  The demand curve the firm faces slopes downward. 

 

  Entry is easy. 

 

 

 

 Points Received:1 of 1 

 Comments:

 

 

 

 2.Question :At the point of long-run equilibrium for a perfectly competitive firm,

 

 Student Answer: 

 economic profits are zero. 

 

  TR > TC. 

 

  TR < TC. 

 

  P = AVC. 

 

  normal profits are zero. 

 

 

 

 Points Received:1 of 1 

 Comments:

 

 

 

 3.Question :The greater the price elasticity of the demand curve that the firm faces in monopolistic competition,

 

 Student Answer: 

 the higher the degree of competition in the industry. 

 

  the lower the degree of competition in the industry. 

 

  the fewer substitutes for the good produced. 

 

  the easier it is for the firm to raise its price. 

 

  the less sales the firm will gain from a price decrease. 

 

 

 

 Points Received:1 of 1 

 Comments:

 

 

 

 4.Question :Retail outlets operate in which of the following market structures?

 

 Student Answer: perfect competition 

 

  

 monopolistic competition 

 

  oligopoly 

 

  monopoly 

 

  oligopsony 

 

 

 

 Points Received:1 of 1 

 Comments:

 

 

 

 5.Question :Which one of the following is NOT a basic assumption of the model of perfect competition?

 

 Student Answer: Many buyers 

 

  Many sellers 

 

  

 A differentiated product 

 

  Full information 

 

  Mobile resources 

 

 

 

 Points Received:1 of 1 

 Comments:

 

 

 

 6.Question :A firm in a(n) industry will have the most elastic demand curve.

 

 Student Answer: monopolistic 

 

  oligopolistic 

 

  monopolistically competitive 

 

  

 perfectly competitive 

 

 

 

 Points Received:1 of 1 

 Comments:

 

 

 

 7.Question :The marginal cost curve above the minimum average variable cost

 

 Student Answer: indicates points where the firm will realize an economic profit. 

 

  covers the area where a firm should shut down. 

 

  is equal to the firm’s marginal revenue curve. 

 

  

 is the firm’s short-run supply curve. 

 

 

 

 Points Received:1 of 1 

 Comments:

 

 

 

 8.Question :A firm in a monopolistically competitive industry faces a downward-sloping demand curve because

 

 Student Answer: the product is homogeneous. 

 

  

 the product is differentiated. 

 

  nonprice competition is missing. 

 

  barriers to entry are high. 

 

 

 

 Points Received:1 of 1 

 Comments:

 

 

 

 9.Question :Along a downward-sloping monopoly demand curve,

 

 Student Answer: marginal revenue is greater than price. 

 

  elasticity of demand is constant. 

 

  

 marginal revenue decreases when price decreases. 

 

  marginal revenue is equal to zero when price is equal to zero. 

 

 

 

 Points Received:1 of 1 

 Comments:

 

 

 

 10.Question :Perfect competition is

 

 Student Answer: not an abstraction from reality; it is reality. 

 

  

 an “ideal type”—that is, a model or guidepost for comparison. 

 

  the only market structure in the United States. 

 

  the best of all possible worlds. 

 

  found in the U.S. steel industry. 

 

 

 

 Points Received:1 of 1 

testimonials icon
4 SIMPLE MATRIX PROBLEMS...
testimonials icon
  Put the following argument into standard form in way that captures as much of the reasoning as possible, and which does not contain any idle pr...
testimonials icon
History1HistoryInsert Your NameName of the InstitutionInstructors NameOctober 2018History2Section I: Lecture Questions1) How is the Holocaust a refle...
testimonials icon
kindly write two reference letters, one from my instructor at University and one from a fellow colleague vouching for my admission into a...
testimonials icon
 Please complete (add more) this paper which is about the history of Fiji water brand: adding: about their media, message of the br...
testimonials icon
Sparkling Lady Fashion1NameProfessorCourseDateSparkling Lady Fashion2List of TablesTable 1: Sparkling Lady Personnel ...................................
testimonials icon
Burton fish is the purchasing for Lyle Co. One of this suppliers, Grant Co., offers Burton a free vacation to Spain if...
testimonials icon
Chapter 61.2.Name: Chapter 6Description: ... To Order an Original Plagiarism Free Paper on the Same Topic...
testimonials icon
Nephrotic syndrome in childrenDr kibaruobjectiveBy the end of this session the students should beable to: Des...
testimonials icon
Initial Project ProposalNote: This is the first of three assignments which, as a whole, will cover all asp...

Other samples, services and questions:

Calculate Price

When you use PaperHelp, you save one valuable — TIME

You can spend it for more important things than paper writing.

Approx. price
$65
Order a paper. Study better. Sleep tight. Calculate Price!
Created with Sketch.
Calculate Price
Approx. price
$65