Question 5 correct mark 100 out of 100 a statement

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Question 5 Correct Mark 1.00 out of 1.00 A statement that best re±ects an evaluation of monopoly ²rms is that: Select one: a. they have a great deal of market power. b. they are economically e³cient. c. consumers are given more choices, lower costs, and higher quality. d. competition should replace all monopolies. The correct answer is: they have a great deal of market power.
Question 6 Correct Mark 1.00 out of 1.00 In this exhibit (Figure 7-2), the potential output in this economy is: Select one:
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Question 7 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:
Question 8 Correct Mark 1.00 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:
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Question 9 Correct Mark 1.00 out of 1.00 Charges that are paid for factors of production are called: Select one: a. implicit costs. b. opportunity costs. c. ±xed costs. d. explicit costs. The correct answer is: explicit costs.
Question 10 Correct Mark 1.00 out of 1.00 To practice e²ective price discrimination, a ±rm must: Select one:
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