Econ 202 Quiz 8 Ch.24 - Rem—mu Quizfl_Ch24 C [email protected]@DDD...

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Unformatted text preview: Rem—mu: Quizfl_Ch24 C [email protected]@@DDD 24.2Exerci592 @quIl-thl'lstfll'll 1] of 1 pt “Snow: 55% {3.5 of 11] pts} E Aperfeetlycompetiflvefnmiseharging'flamiseflhg lSEStmflsamthtflfmmhwersflspfic-ehyanbkelbehwflaemket prheJtsprofit: -:::::-A- will harem. .;3__*. B- will decrease. {:jz-C- will not change. ..‘_¥ '3'- will g: to zero. Question is enmplete. . @QWGfiDW 24.2Exemiee3 @Qunthn 5mm 1 of 1 pt manure: 55% [5.5 of 11:: pts} E1 Thedemandcmve ferthe perfect comethoristnrimntalbecause: (gee. the firm is e prize maker. .1? B- the market dictates each fnm‘s price. .::;::.c. demand is perfectly inelasth. .130. nnne ofthe above. Question is complete. mdfifi’e9finu696’fifibw 2425......“ (allusihnflenrlll of 1 pt Minn: 35% {3.5 of 10 puts} E The demand ourve for the perfectly oompetiflve tritium-y is -:j::-B- vertical Cic- W31. fl:- D- hfletermhate wiflnmn more hformatkm. Question is oomplete. . [email protected] 24.3Exoreiso1 @qmummm 1 of 1 pt manor-a 35% {3.5 of 10 pts} [3 For a perfectly competitive fun, price {3-h- equals average revenue, marginal revenue, and average total costs. ”MB- equals bathaverage revenue andmarginal revenue. .;:;.C. equals marginal revenue only. :j:j:- '1 equals average revenue only. Question is on m plete . «[email protected] 24.1Exorcisefl @qmmmm 1 of 1 pt mm": 35% [3.5 of 1o ms} [3 Whichofthe foIbwhgisnotoneoftheassmmprthnsofaperfecflycommethiue market: ._3.? A. better informatbn for producers than consmrs. .;;:;;. 3- mm Product uszjz-C- free entry.r and exit. 3::- D- large number ofhmers and sellers. (E) 24.1 Exercise 3 “gnarl: 35% [3.5 of 11] pts} E Question is complete. [email protected]@@[email protected]@@[email protected] @qmunfienrlr 1 of 1 pt Theperfectlycouqaetitiuefilmis saidtobe a: i:- A. price maker—it sets market prices. {:3- B- price leader—it changes its price and other films foIbw. -::j:-C- price participant—it decides the price together with other films. .-3_.?D pricetaker—it takestheprbegivenhythe market. Question is complete. NdfiWfing 24.3Exeroisea @Qunthnswm 1 of 1 pt mm”: 35% [5.5 of 111 pts} [3 lnflnefiglretoflaefightflaefnmslxmflpmdnce 3a {:3qu 10 watts since this is the onlyompm level with scoolmt'mgprofms. {:13- Sor131mitssincethefirmhreakseven. {:1 C- any output level between 5 and 13. “Ml-7' lfllmitssilnee-commicprofnsarethegreatest 1124631111214 1324] Output Question is complete. . mafiéfi’éfi’ll’dfifi’é’fi’fifiwn 24.35..mi..2 @qmmmm 1 of 1 pt mm”: 55% [5.5 of 111 tits} [3 Thedeciskmmnkhagprocessforflaeperfecflycompethivefirmhoflsdownm: {3-h- decid'mg what price to charge. “HB- de-cid‘mghdw mhto produce. -:j:j:-C- decid'mg when to change the price. {:3- D- decid‘mg for Wham to produce. Question is complete . [email protected]@DW 24.1Exemise4 @thnS-nurll 1 of 1 pt “515:5": 35% (3.5 of 1D pm: IE Aperfecflyoompefihefimwaflsflghermflsandhsdeokhdhmhetheprheofflsmt.AsaneeommiooonsultanIyou woukiadvisethemto: {gin- mrtdothis shoetheywoukikisealloftheir saiestooompethors. uszjz-B- dothisjflahotoknwerfiTCtomakelargerprofits. uszjz-C- dathisshuehigherprizehmmasesmtalrevemle,mherthh1gsremahhgeqlml cjj-D- domtdothisshmeoonqaetflorswiflmatohthehoreasehprizeamithefrmwiflbembeflerofii Question is oomplete. WGCfiCfiCfiWEfiDWI TextPruhlemEELQ @Qufihnmm D.5 of 1 pt menu": 35% (3.5 of 1:: pts} E1 Conskier the market for DVD rmvie rentals, whizhis perfectly oompetilhre. The market Simply curve slopes upward, the market demamiom've 5101335 dawnwariamitheequflibrilmaremalprizeeqlnls $3.5fl.1m1i=atehaweaohofttefolbwh1geven15wiflhave anefi'e-ctonthe market olearhagprize andonthe dememiourve face-dhytheindividnalrenmlsm. People‘s tastes ohange hfawr ofgohagto seememvies at cinemas wilhtheirfi'iendsamifamflymmbers. Market Clearing Price Film's Demand Curve deem slfifladown‘ NathnflDmmmflomhs openamnnberofnew stores inthismarket. Market Clearing Price Finn's Demand Curve deem" shifts down Thereisasignifnamhnreasehtheprbeafdnwnhadmgmviesmthemt. Market Clearing Price Finn's Demand Curve increases 1' shifia up Roll your mouse over the red indicators to see incorrect answers. ...
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