exam 3 ch 11 & 12

exam 3 ch 11 & 12 - Grades Worksheets Assignments...

Info iconThis preview shows pages 1–4. Sign up to view the full content.

View Full Document Right Arrow Icon
Grades Worksheets Assignments Practice Tests Quizzes Exams Surveys
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
User : Alaa Alakeely In Course : PRIN ECONOMICS II ( ECN 222W SU810 09 SP) Instructor : Edward T Derbin Your score on this exam is 90 out of 100 . Instructions : You have one hour and 30 minutes to complete your exam. Once you begin (open) this exam, the clock is ticking, so plan accordingly. You will have plenty of time to complete it. Answer Key Question 1 (Worth 5 points) Among the characteristics of a monopoly market structure is entry of new sellers is completely blocked. True This is a correct answer False Points earned on this question : 0 Question 2 (Worth 5 points) Large number of sellers who sell differentiated products with no barriers to
Background image of page 2
True False This is a correct answer Points earned on this question : 5 Question 3 (Worth 5 points) When market price is below average variable cost at the output where marginal revenue equals marginal cost, the firm in a perfectly competitive market should shut down in the short run. True This is a correct answer False Points earned on this question : 5 Question 4 (Worth 5 points) An individual seller in perfect competition will not sell at a price higher than the market price because the seller would not be able to sell anything. True
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 4
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 05/18/2010 for the course ECON Econ222 taught by Professor E.derbin during the Summer '09 term at Delta MI.

Page1 / 10

exam 3 ch 11 & 12 - Grades Worksheets Assignments...

This preview shows document pages 1 - 4. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online