Econ_101_More_Final_Exam_Review_Question

Econ_101_More_Final_Exam_Review_Question - Econ101: 1 1 a...

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Econ 101:  Review Questions for the Final Exam 1 1. The four-firm concentration ratio measures the share of the largest  four firms in total industry: a) Profits b) Sales c) Cost d) Capital e) None of the above 2. In the dominant firm model of oligopoly, the smaller firms act like: a) Oligopolists b) Monopolists c) Monopolistic competitors d) Perfect competitors Questions 3 and 4 refer to the following table: Firm B Low Price High Price Firm A Low Price A:  $2 B:  $5 A:  $20 B:  -$15 High Price A: - $10 B:  $25 A:  $10 B:  $20 3. In equilibrium what are firm A’s profits? a) -$10 b) $2 c) $10 d) $20 4. If both firms agree to collude, what would be firm A’s profits? a) -$10 b) $2
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Econ 101:  Review Questions for the Final Exam 2 c) $10 d) $20
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Econ 101:  Review Questions for the Final Exam 3 Questions 5 and 6 pertain to the following diagram of a monopolistically- competitive firm in short-run equilibrium: ATC MR D Quantity 0 Q
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Econ_101_More_Final_Exam_Review_Question - Econ101: 1 1 a...

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