GradedQuizUnit6.pdf - Graded Quiz Unit 6 ECON 1580...

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5/22/2019 Graded Quiz Unit 6 1/9 Home My courses ECON 1580 - AY2019-T4 16 May - 22 May Graded Quiz Unit 6 Question 1 Not yet answered Marked out of 1.00 Question 2 Not yet answered Marked out of 1.00 Question 3 Not yet answered Marked out of 1.00 Economic pro±ts are guaranteed for: Select one: a. a monopoly, but not a perfectly competitive ±rm. b. a perfectly competitive ±rm, but not a monopoly. c. both a monopoly and a perfectly competitive ±rm. d. neither a monopoly nor a perfectly competitive ±rm. To practice e²ective price discrimination, a ±rm must: Select one: a. have some degree of monopoly power. b. avoid detection by government regulatory agencies. c. enable the resale of goods between groups of buyers. d. calculate the utility level of each buyer in the market. Perfect competition is important to study because it: Select one: a. is a theoretical extreme used for analysis. b. is a realistic model of a few key markets. c. is a realistic model of many di²erent markets. d. avoids all real-world problems and complexities. ECON 1580 Introduction to Economics - Term 4, 2018-2019 This study resource was shared via CourseHero.com
5/22/2019 Graded Quiz Unit 6 2/9 Question 4 Not yet answered Marked out of 1.00 In this exhibit (Total Revenue, Total Costs, and Economic Pro±t), total revenue and total cost are equal at approximately _______ pounds and $ _______ . Select one: a. 0; 300 b. 2,000; 1,200 c. 4,500; 1,300 d. 8,300; 2,250 This study resource was shared via CourseHero.com
5/22/2019 Graded Quiz Unit 6 3/9 Question 5 Not yet answered Marked out of 1.00 Question 6 Not yet answered Marked out of 1.00 In this exhibit (Figure 7-2), the potential output in this economy is: Select one: a. $7,000 billion at a price level of 1.16. b. $7,000 billion at a price level of 1.12. c. $7,000 billion at a price level of 1.08. d. described correctly in all of the above. Charges that are paid for factors of production are called: Select one: a. implicit costs.

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