Select one a i ii and iii b i and ii only c i and iii

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Select one: a. I, II, and III b. I and II only c. I and III only d. II and III only The correct answer is: I and III only
Question 5 Incorrect Mark 0.00 out of 1.00 According to the Case in Point on hockey teams, economic theory predicts that if a sports team consistently sells out its games, it will operate at a quantity where marginal revenue is: Select one:
Question 6 Correct Mark 1.00 out of 1.00 The XYZ Company is a pro²t-maximizing ²rm with a monopoly in the production of pennants. The ²rm sells its pennants for $10 each. We can conclude that the XYZ Company is producing a level of output at which: Select one:
Question 7 Incorrect Mark 0.00 out of 1.00 A statement that best re³ects an evaluation of monopoly ²rms is that: Select one:
Question 8 Correct Mark 1.00 out of 1.00 Economic pro²ts are guaranteed for: Select one: a. a monopoly, but not a perfectly competitive ²rm. b. a perfectly competitive ²rm, but not a monopoly. c. both a monopoly and a perfectly competitive ²rm. d. neither a monopoly nor a perfectly competitive ²rm. The correct answer is: neither a monopoly nor a perfectly competitive ²rm.
Question 9 Correct Mark 1.00 out of 1.00 The market for plumbing services in a city can be characterized by the model of monopolistic competition. Suppose that the market is initially in long-run equilibrium, and then there is an increase in demand for plumbing services. We expect that in the long run: Select one:
Question 10 Correct Mark 1.00 out of 1.00 An oligopoly knows that its _______ a±ect(s) its _______ and that the _______ of its rivals will a±ect it. Select one:

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