Module 5_ Quiz.pdf

# Refer to figure 12 4 if the market price is 30 the

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Figure 12-4 shows the cost and demand curves for a profit-maximizing firm in a perfectly competitive market. Refer to Figure 12-4. If the market price is \$30, the firm's profit-maximizing output level is Select one: a. 130. b. 0. c. 240.

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4/16/2018 Module 5: Quiz 3/9 d. 180.
4/16/2018 Module 5: Quiz 4/9 Question 4 Correct Marked out of 1.00 Figure 12-9 shows cost and demand curves facing a profit-maximizing, perfectly competitive firm. Refer to Figure 12-9. Identify the firm's short-run supply curve. Select one: a. the marginal cost curve from d and above b. the marginal cost curve from b and above c. the marginal cost curve d. the marginal cost curve from a and above

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4/16/2018 Module 5: Quiz 5/9 Question 5 Correct Marked out of 1.00 Question 6 Correct Marked out of 1.00 Assume that both the demand curve and the supply curve for MP3 players shift to the right but the demand curve shifts more than the supply curve. As a result Select one: a. the equilibrium price of MP3 players will decrease; the equilibrium quantity may increase or decrease. b. the equilibrium price of MP3 players will increase; the equilibrium quantity may increase or decrease.
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