ECO561 Week 2 Exam

ECO561 Week 2 Exam - Student Name:Celaine Harrington Student

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Student Email:ciciharri@gmail.com Site Title:Economics UOP custom CW Book Title:UOP-custom course for Economics Book Author:Case Location on Site:Chapter 3 > Lecture Exam Questions Date/Time Submitted:September 27, 2010 at 10:04 PM (EDT) Summary of Results 100% Correct of 8 Scored items: 8 Correct: 100% 0 Incorrect: 0% More information about scoring 1. The demand curve facing each wool producer is ________ starting at $3.00 per pound. Your Answer:horizontal. 2. If a firm in a perfectly competitive industry raises price above market price, Your Answer:its sales will drop to zero. 3. The fast food industry is not considered perfectly competitive because: Your Answer:the firm's products are differentiated. 4. You are certain that a normal rate of profit is 18% for the fast-food industry. What is your estimate of a normal rate of profit in the computer software industry, which is considered to be much riskier than the computer industry? Your Answer:above 18%
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This note was uploaded on 10/17/2010 for the course MBA 561 taught by Professor Various during the Spring '10 term at University of Phoenix.

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ECO561 Week 2 Exam - Student Name:Celaine Harrington Student

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