Individual Performance Profile
RN Learning System 2.0 Mental Health Practice Quiz 1
Individual Name: NICOLE ZEMROZ
Student Number: D40493937
1 hr 54 min
Chamberlain U Addison BSN
Real Life Scenario as Substitute for Bedside Clinical Practice
Time to Complete: 6 Hours
Materials: PC, web connection, Real Life Scenario: Mood Disorder, reference books, classroom or
lab set up in stations including high fidelity sim, smal
SECTION l3/ADDITlONAL QUESTIONS
Use the following to answer questions 1'12:
Table: Value of the Marginal
Product of Labor and Demand
of Labor Total Product
1. (Table: Value of the Marginal Pro
SECTION 1 l/DISCUSSION QUESTIONS
l. Collusive agreements are typically difficult for cartels to maintain because each firm can
increase profits by:
producing more output than the quantity that maximizes joint cartel profits.
producing less o
SECTION ll/PART Z/DISCUSSION QUESTIONS
1. Product differentiation under monopolistic competition means that each firm:
charges the same price
maximizes profit where M C r: P.
faces a downwardsloping demand curve.
always receives economic p
SECTION ll/PART Z/CLASS QUIZ
1. Because a monopolistically competitive firm faces a downward-sloping demand curve for its
product, its price Wiil be:
A) equal to marginal revenue.
8) less than marginal revenue.
C) greater than marginal revenue.
D) equal t
SECTEON EOIADDITIONAL QUESTIONS
Use the foiiowing to answer questions 1-4:
Figure: Short-Run Monopoiy
1. (Figure: Short~Run Monopoly) Examine the figure Short-Run Monopoly. The profit
maximizing rule is sati
SECTION l l/CLASS QUIZ
Large barriers to entry in the gas station business explain why the two only gas stations
in a small town:
A) can earn an economic profit in the long run.
8) must produce at the minimum average total cost in the long run.
Name (Last, First) _ Orazem/Econ 101:1/Midterm
Please list your last name and then your first name on both the
exam and the bubble sheet. Use a pencil in filling out the bubble
sheet. Please insert the bubble sheet in the exam and hand both
1. Which of the following is a determinant of supply?
a. The Suppliers taste for the products they produce
b. If the product breaks when used too much
c. Prices of the factors of production needed to produce the supply
d. None of the above
2. In a market,
Economics is the study of scarcity and choice.
Individual choice is decisions by individuals about what
to do, which necessarily involve decisions about what not
An economy is a system for coordinating a societys
productive and consumptive activiti
What are the four categories of resources? Give an
example of a resource from each category.
Land, labor, physical capital, and human capital are
the four categories of resources. Possible examples
include fisheries (land), time spent working on a
1)Large Number of sellers-PERFECT COMPETITION
Monopoly= ONE SELLER
2) Price maker (Monopoly)
3) Free entry & exit (PC)
4) Many substitutes
Monopolistic competition is a market structure thats a little like monopoly and a little li
Eco 211 Microeconomics Notes
What you will learn:
Why oligopolists have an incentive to act in ways that reduce their combined profit
Why oligopolies can benefit from collusion
Perfect competition are over 100 producers
Oligopoly Market structu
Microeconomics Final Eco211 notes
Section 9 Market Structure and Perfect Competition
Market structures, a system economists use to classify markets and industries
according to two main dimensions. Perfect competition is actually one particul
Name: _ Date: _
1.A monopolistically competitive firm is operating in the short run at the optimal level of
output and is earning negative economic profits. Which equation must be true?
ATC > P > MR = MC
ATC = P > MR = MC
ATC > P = MR = MC
Name: _ Date: _
1.A player's best action (regardless of the action taken by the other player in a game) is
Use the following to answer question 2:
Homers possible production plans in the Homer Zone:
If Homer produces this many units Then Homer has enough resources left over to make this
many units of Beer
. Neds Production Possibilities:
If NED produces this
Name: _ Date: _
Use the following to answer questions 1-2:
Figure: Computing Monopoly Profit
1.(Figure: Computing Monopoly Profit) Examine the figure Computing Monopoly Profit.
Producing at point N would:
result in MR = MC.
result in positive
All firms face the same rule: Profit is maximized at the Q where MR = Mc.
How you fix the output- MR=MC
Equilibrium will be at MR and MC
P = AR = D
Price on AR
Cost on ATC
What can public policy do about this? Two common answers:
List the main characteristics (at least five of them) that are shared by most less
developed economies (not just low income, which is obvious, but things like low
level of education, etc.).
The term less-developed economies is assigns to countries classi
The decisions a firm makes regarding production and price depends greatly on the
defining the characteristics of the industry in which it operates.
Industries are grouped into 4 market models that differ in several respects
1. No of firms
Monopoly is a market structure in which one firm makes up the entire market. It is polar
opposite to pure competition. It is a market structure in which the firm faces no competitive
pressure from other firms.
Monopolies exist because of barriers
Cost of Production
Accounting Cost ( Explicit Cost) vs Economic Cost ( Implicit Cost)
Explicit cost or Accounting cost: Opportunity cost of production that requires a
monetary payments. In other words payments made by the entrepreneur to various
Elasticity of Demand
The elasticity of demand measures how responsive the quantity demanded is to a
change in price.
If consumers are highly responsive to modest changes in price, the demand for
such products is relatively elastic, or simply elastic. On t
What is Economics?
Economics studies how individuals, institution and society make optimal choice under
conditions of scarcity for which economic wants are unlimited and the means or
resources to satisfy those wants are limited