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Econ 202 Quiz 9 Ch.25 - Review ouizs_c.h25[— «[email protected]@DDD...

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Unformatted text preview: Review: ouizs_c.h25 [— «[email protected]@[email protected] 25151911533 @thhnmrl: 1 of 1 pt mourn: 93.3% [9.33 of 11: pts: E1 Ammpolistisdefinedas -I::I--"- amofimofagoodmservhefiathememhehmoflnefiemfihghrgeammofmphflamm 1:33. ahrgefimmaldngsuhstanflalprofits,thatisahletomakeotherfirmschwhatitwants. [JC- ashglesmplierofagoodorservbeforwhiohthereismohse substitute. {3-D- aflrmwithanmnlsalesoverSlflmiflbn. Question is oomplete. ® WWfiDW ToxtProblomES—G @thhnS-nurl: 1 of 1 pt Tints-nun: 93.3% [9.33 of 11: pts} El Supposethatitlsthewari‘flfls.Exohmhmowmrshhofamsmmeremfiedfmttflmthnoffimhnpowerhyashghfirm hasgiventhlsfnmanmmpohrhthepowerhxhlstry. What-tithefolknwhgaretmeoftherelatitmshiphetweenthepfioeofthisresmnoeanithemarginalrevemlethefnmreoehres‘? -:j:j:- «"I- there is no systematic relatkmship between the price and the marginal revemle. -:j:j:- 3- the price will be less than the marginal revemle. ._f'C the prloe willhe greater thanthanthe marginalrevemle. 13-D- the prize willhe equal to the marginal resnemle. Question is oomplete. 25.3 Exercise 3 menu: 93.3% {9.33 of 11: pm: [3 fwdquufi’fifibm [Eating-tinnitus“: 1 of 1 pt For a mmpobr, -:j:j:- fi- price equals both average revenue and marginal revenue. C:- 3- prlee equals marginal revenue only. ”M (3- price equals average revemle only. {3- 0- price difi'ers from both average revenue and marginal revenue. Lr Question is complete. ® @QWfiDDfl 25.1Exercisefl @thn Seen: 1 of 1 pt “Score: 93.3% [9.33 of 113 pts} [3‘ Ina mrpoly market stmeture, the film {the mumpolist) fl:- r'L sells faulty products. .-'.'._.__VB is the whole industry. -:j::-C- gauges the eonsmuer. fl:- D- gets monsehnahly rich. Questio n is on m plete. «ddfifibw 25.151.11.91 @qwhnmmn of 1 pt mean": 93.3% [9.33 of 1:: ms: E Mompolyprodnoersarefacedwith -::_::~\- WWW Wham-“mam!- -:':':- --B onlyafewoompetitorsprodmhngthesampmdmt. .;..VC- mometflhreprodmersofthempmdmt. 1:10. atleastomoonpefithleprodlnerofthemprodlnt Question is oomplete. «W‘@DW 25.4ExtraExomise1 @thnS-Durll 1 of 1 pt mmm193.3%{9.33 of 1:: pts} E Shneamompolist facesthedownward—shphghflustrydemamiom, rjjz-fi- theprheitoanohmge nulstberegulatedbythegovermm. QB- itnnmtohmgethesamprheasaoonmethhrefnm. .-'.'._.__VC theprbeflwiflohargedepetdsontheehstbflyofdemnm. a:- D- it on charge any price that it wants to. Question is oomplete. ® ”«dméfi’fi’fifibm 25mm... @Qulstlnnfieurl: 1 of 1 pt fists-nun! 93.3% [9.33 of it: puts} [3_'-_r‘ Asopposedtoothertntes ofmmpolyfinammfmmpolytypioaflyowesflsmmpohrpositkmto {:3 31- patents. {:1 3- tar'fl's. {:jJC- ownership of a resume withzrut close substitutes. .43.? ll eoomunies of scale. Question is complete. a) QQQMCfiDGfiDDD Textpmhlemzm @thnS-onrl: 1 of 1 pt fists-our” 93.3% {9.33 of 1|] puts) E UmierfederallswmnlytheUB.PostalServisehssthefighttodeliverfirst—olsssmafl.Thus,aoonsmneroa.neithersendahtter viatheU.S.PostalServioeforjustovermoentsorpeyFedELUPSmrDI-IL $lflormetodeliverit.Whatistheshapeofthe demandomvefaoedhytheUB. PostalServioehthemaIket for fist—olessmnil‘? EVA- Shoethealtemativesto i'il'staflsssmilaremtohse substitutes, itsdemamiomveisdswnward sloping. {:33- ShrethePostflServbeisamguhtedmmopolmfldoesmnhneademamiomuem suppbrom've. {:jz-C- Shoe the alternatives to firstolass mail are ohse substitutes, its demand curve is smut {Till ShnethePostflServbeisammopolfiitdoesmthneademamiom'ueor suppbrom've. x Question is oomplete. ® F<]<]<|[email protected]§“[email protected]{>H TextProhlemRS—E @thinnemru: 1 of 1 pt menu": 93.3%{133 of 13 pm: E Reoently,atopconstitmkmallawexpert who hadheenlbensedhpracthehthassaehmeflsanflwasmflereonsfienthnfor mmhatbntotheCaifl'mnia SupremeChmtfaiiedtheCaliforniaharexamhatbn. ]ndt1ingso,shejuinedaiongiistof momplhhdhwyerswbhawfafledhpassttemtorhmlydfinuflemmhatbmhnhflhgaformergavermrwharequ‘n'edfmrr attemptstopassamialnsAngelesmayorwhagaveupafierfourtries. Inthelegalimiustrmwhatisakeyeeommiefimetirmof theCaliforniaharexamhation‘? it? r'L It acts as a barrier to entry into the market for lawyers‘ services. -:"':-3- It sets the m'mimum efi'niertt scale for lawyners‘ services. ("f-C- It ensures that California lawyers meet the highest legal standards. ("E-U. There isnoe-oonmrtil:r finntitmoftheCaiiforniaharexamhatitm. Question is oomplete. G) «Wtfibw TexthblemRE—Tabod @Qmuinn Sunni: 3.33 of 1 pt mean": 93.3% [9.33 of 1:: pts] E Use the graph at right to answer the foIhwing questions. 3 What is the mnepolist‘s profil—maximizingomm? 5111] At the profil—maximizingomm rate, what is the average total cost? $ 5.15 At the profit—maximfing output rate, what is the average re‘uertue‘}I ”.5 6.1!] Dollars per Unlt At the profil—maximizingomm rateI what is the nmrnpolist‘s totaleost‘? $26150 At the profi—maximfigmnnm rate, what is the nmrnpolist‘s totalresrenne‘}l ”.3 W . . ' 5.333 13.333 Wilsflflmmmprom $335!] Unlt; par Period Roll your mouse over the red indicators to see incorrect answers. ...
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