Chapter
Monopoly
CHAPTER OUTLINE
I. Explain how monopoly arises and distinguish between single-price
monopoly and price-discriminating monopoly.
A. How Monopoly Arises
1. No Close Substitutes
2. A Barrier to Entry
a. Natural Barrier to Entry
b. Ownership
Chapter 29
AS-AD and the Business Cycle
29.1 Business-Cycle Definitions and Facts
1) The business cycle is defined as
A) changes in the stock market.
B) changes in financial markets.
C) persistent growth in potential GDP.
D) irregular ups and downs in pro
Chapter 29
AS-AD and the Business Cycle
29.1 Business-Cycle Definitions and Facts
1) The relationship between real GDP and potential GDP over the business cycle can be best
summarized by which of the following statements?
A) Real GDP fluctuates around pot
Demand and
Supply in
Factor Markets
CHAPTER OUTLINE
I. Describe the anatomy of the markets for labor, capital, and land.
A. Labor Markets
B. Financial Markets
1. Stock Market
2. Bond Market
C. Land Markets
D. Competitive Factor Markets
2. Explain how the
Chapter 18
Demand and Supply in Factor Markets
18.1 The Anatomy of Factor Markets
1) Factors of production
A) consist of finished products produced by inputs.
B) are different factors, internal and external, that affect production.
C) are the goods and se
Foundations of Economics, 3e (Bade/Parkin) - Testbank 2
Chapter 13 Perfect Competition
1)
What is the difference between perfect competition and monopolistic competition?
A)
Perfect competition has a large number of small firms while monopolistic competit
Exam
Name_
You may not discuss this test in any way shape or form with anyone before 1500 Thursday, February 24, 2011.
MULTIPLE CHOICE. Circle the one alternative that best completes the statement or answers the question.
1) The price elasticity of demand
Suppose a monopoly can sell 10 units of output for $21. In order to sell 11 units of output,
the price must fall to $20. What is the marginal revenue of the 11th unit?
Question 1 options:
A) $220
B) $20
C) $10
D) $1
E) $41
For a single-price monopoly, pri
rinciples of Macro Quiz 2
Multiple Choice
Identify the choice that best completes the statement or answers the question.
Figure 3-3
Arturos Production Possibilities Frontier
500
burritos
Dinas Production Possibilities Frontier
500
450
450
400
400
350
350
R version 3.3.2 (2016-10-31) - "Sincere Pumpkin Patch"
Copyright (C) 2016 The R Foundation for Statistical Computing
Platform: i386-w64-mingw32/i386 (32-bit)
R is free software and comes with ABSOLUTELY NO WARRANTY.
You are welcome to redistribute it unde
Use the data in ECONMATH to answer the following questions. (i) Estimate a model explaining colgpa to
hsgpa, actmth, and acteng. Report the results in the usual form. Are all explanatory variables statistically
significant? (ii) Consider an increase in hs
Zach Tomlin
Take Home Test R
2. Use the data in CHARITY [obtained from Franses and Paap (2001)] to answer the following questions:
a. What is the average gift in the sample of 4,268 people (in Dutch guilders)? What percentage of
people gave no gift?
> sum
Solutions:
#1
(i) The estimated model is
price)
log(
4.77 + .000379 sqrf + .0289 bdrms
(0.10)(.000043)
(.0296)
n = 88, R2 = .588.
Therefore,
1
= 150(.000379) + .0289 = .0858, which means that an additional 150 square foot bedroom
increases the predicted
School of Business
Mission
The GGC School of Business, as part of a diverse access institution, promotes a high quality
learning community characterized by student engagement, a faculty dedicated to
excellence and continuous improvement in teaching, schol
Data
Cost Daytime ads on Friday
Cost daytime ads on Sat
Cost Daytime on Sunday
Cost evening ads on Friday
Cost Evening ads on Sat
Cost Evening ads on Sun
Cost Sunday Gamespot
$
5,000.00
$
5,000.00
$
5,000.00
$
7,000.00
$
7,000.00
$
7,000.00
$ 100,000.00
R
Homework for
March 18,2017
Due by noon
Problem 1 : Advertising Problem Once more
You have started working for the BIG company and trying to help them
finding out how to make the best use of the $600,000 ad budget for TV
spots throughout a week. You have b
Zach Tomlin
Take Home Test R
2. Use the data in CHARITY [obtained from Franses and Paap (2001)] to answer the following questions:
a. What is the average gift in the sample of 4,268 people (in Dutch guilders)? What percentage of
people gave no gift?
> sum
Use the data in WAGE2 for this exercise.
(i) Consider the standard wage equation
log(wage) = B0 + B1educ + B2exper + B3tenure + u
State the null hypothesis that another year of general workforce experience has the same effect
on log(wage) as another year
Data
Cost Daytime ads on Friday
Cost daytime ads on Sat
Cost Daytime on Sunday
Cost evening ads on Friday
Cost Evening ads on Sat
Cost Evening ads on Sun
Cost Sunday Gamespot
$
5,000.00
$
5,000.00
$
5,000.00
$
7,000.00
$
7,000.00
$
7,000.00
$ 100,000.00
R
i. Estimate the regression model
2
01 2 3 4 educ motheduc fatheduc abil abil u = + + + + +
by OLS and report the results in the usual form. Test the null hypothesis that is linearly related to
against the alternative that the relationship is quadratic. ed
Name:
Classification:
Major and Concentration:
Computer course(s) you have taken:
Statistics course(s) you have taken:
Phone Number:
Email Address( The one you check
most frequently)
Skype ID(if Available) :
Rate your Competency
(1: Very Poor
2: Acceptabl
Baby Myou
Zachary Tomlin
Legendrea Fumbah
3/1/2017
Create Project Topic
For our project, we will be studying the economics of the widening gap between the richest and
poorest in the United States. With this question our research will conclude how this is
Data
cost of daytime adds on Monday
cost of daytime adds on Tuesday
cost of daytime adds Wednesda
Cost of evening ads on Thursday
Cost of evening adds on Friday
Cost of evening ads on Saturday
Cost of ads on Sunday
$1,000
$4,000
$4,000
$4,000
$5,000
$5,00