Microeconomics

The correct answers are highlighted red1 .Economists would tell apart the U .S . automobile achievement asA ) an oligopolyB ) a pure monopolyC ) strictly competitoryD ) monopolistically free-enterprise(a)2 . A purely competitive vendor isA ) both a ` expense maker` and a ` worth taker .`B ) a ` expense taker .`C ) a `monetary value maker .`D ) neither a ` wrong maker` nor a `price taker .`3 . If a phratry is confronted with economic losses in the bypass run , it go out decide whether or not to produce by examine p A B ) fringy tax revenue and fringy costC ) price and marginal sightly variable costD 4 .

A single-price pure monopoly is economically inefficientA ) totally because it produces beyond the nous of borderline amount costB ) because it produces short of minimum average cost and price is greater than marginal costC ) because it produces beyond minimum average cost is greater than priceD ) only because it produces short of the point of minimum average cost5 . The MR MC bump can be restated for a purely competitive seller asMC becauseA ) the firms marginal revenue and B ) the merchandise demand skip is downslopingC ) each additional whole of getup adds exactly its price to revenueD ) the firms average revenue writhe is downsloping6 . A pure monopolist is producing an output such that ATC 4 , P...If you destiny to get a full essay, order it on our website: Ordercustompaper.com

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