{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}


Econ_198_Aut_06_Exam__2 - Introduction to Microeconomics...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Introduction to Microeconomics Allen R. Sanderson Economics 19800 Autumn 2006 SECOND HOUR EXAMINATION Name (Please Print): ______________________________________ [40 Points Possible] Part I. Multiple Choice. Circle letter to indicate your answer. 1 point each; 20 points total. 1. When I see a newspaper ad or TV commercial featuring actress Catherine Zeta-Jones promoting a particular cell-phone service, this should remind me or suggest or point to: a. a perfectly competitive industry. b. that this firm’s costs will likely be higher because it has to pay Ms. Z-J a salary and buy advertising space and air time. c. monopolistic competition. d. that she and her company are trying to rent-seek. e. wow, she’s gorgeous. 2. The short-run ATC curve eventually slopes upward because: 3. “Market power” is generally thought of or measured by economists as: 4. ComEd, the supplier of electric power for the city of Chicago, would be best characterized as, or would be an example of:
Background image of page 1

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

View Full Document Right Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}