Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Business Economics Expert

Answer all multiple choice problems in micro Economics

1. Keeping landing fees low at airports during the "peak" hours

1. Perpetuates congestion during those hours

2. Is politically unpopular

3. Contributes to efficient allocation of airport facilities

4. Would lessen the problem of delaying flight landing

2. Which of the subsequent statements is correct?

1. Low prices may not always be in the public interest

2. If price on scarce resources are set "too low," consumers will receive the "wrong" signals and be encouraged to consume more, thus squandering resources

3. Raising prices on scarce resources is generally politically unpopular

4. All of the above are correct

3. When economies of scale exist,

1. Production costs per unit increase as output expands

2. Production costs per unit decline as output expands

3. Total production costs decrease

4. Total production costs increase

4. Economies of scope are savings acquired by

1. Producing many goods simultaneously

2. Producing enough of one good to reach the minimum efficient scale of production

3. Selling one product at a loss, but selling other products at profit

4. Decreasing the regulation of the company

5. A market structure in which only one company has survived because of its economies of scale called a

1. Natural monopoly

2. Planned monopoly

3. Structural monopoly

4. Free monopoly

6. It is efficient to increase the output of computers if

1. Society considers the additional computers more valuable than goods forgone to capable to produce the computers

2. The opportunity cost of more computers is greater than their marginal utility

3. Computer production can be increased only if production of other goods is decreased

4. The price of the computers is equal to their average cost

7. Many detrimental externalities occur because

1. Persons do not pay the full social cost of using a resource

2. Persons do not pay the full private cost of using a resource

3. Companies do not pay the market price for natural resources

4. Companies pay more than the full social cost of using a resource

8. It is true of externalities which they

1. Arise when all costs, social and private, are included an production cost

2. Are always identical

3. Are always detrimental

4. None of the above is true

9. Students in a class are assigned to group to work on a project. A grade will be given for each project, and everyone in the group will receive which grade) For the members of a particular group, the grade is

1. Beneficial externality

2. Public good

3. Detrimental externality

4. Moral hazard

Business Economics, Economics

  • Category:- Business Economics
  • Reference No.:- M917305

Have any Question? 


Related Questions in Business Economics

There are four phases of the business cycle the expansion

There are four phases of the business cycle, the expansion, the peak, the contraction, and the trough. The expansion is the time when real GDP is rising, the peak is when real GD reaches a maximum, the recession is when ...

A restaurantbar is analyzing its pricing of beer it has

A restaurant/bar is analyzing its pricing of beer. It has determined that the price elasticity of demand for beer is −0.8; the cross-price elasticity for wine with respect to the price of beer is 0.9; the cross-price ela ...

1 which of the following is an ideal condition for a free

1. Which of the following is an ideal condition for a free market? Select one: a. There are no parties, institutions, or governmental units regulating the quantity of the goods being bought or sold in the market. b. Ther ...

Discuss the impact of major accountingfinancial scandals on

Discuss the impact of major accounting/financial scandals on investors’ asset preferences. In your opinion how do the scandals affect foreign markets? Discuss two macro variables that affect changes in interest rates/or ...

John and marge were married 26 years ago they have one

John and Marge were married 26 years ago. They have one child, Monica. Sometime in January 2013 after a particular fierce argument, John left the household and has not kept in touch, and his current whereabouts are unkno ...

After reading the article usa comes up a bit short in

After reading the article U.S.A comes up a bit short in global Better Life Index and comparing the relative ranking of U.S. GDP to other countries, what is the link between wealth and well-being? Do governments have a re ...

Builtrite had sales of 4000000 in 2011 cost of goods sold

Builtrite had sales of $4,000,000 in 2011. Cost of goods sold were calculated at 70% of sales. Builtrite’s operating expenses were $700,000 which included depreciation expense. Bonds with a total par value of $2,000,000 ...

Explain what bounded rationality is then discuss how this

Explain what Bounded Rationality is. Then discuss how this concept can affect the decision situation in SLP 1. Also discuss how this concept can affect the data analysis in Case 1. Explain your logic for both of your arg ...

Which of the following explains why big business typically

Which of the following explains why big business typically spends more on rent-seeking activities than consumers? A. Lobbying is a public good to consumers. B. Lobbying is a public good to businesses. C. Labor unions in ...

Consider a single monopoly that faces a market demand curve

Consider a single monopoly that faces a market demand curve for a good is given by the equation P=100-.1Q and the total cost function is given as TC=1000+20Q-.4Q(^)(2). What is the total fixed cost for this monopoly?

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

A cola-dispensing machine is set to dispense 9 ounces of

A cola-dispensing machine is set to dispense 9 ounces of cola per cup, with a standard deviation of 1.0 ounce. The manuf

What is marketingbullwhat is marketing think back to your

What is Marketing? • "What is marketing"? Think back to your impressions before you started this class versus how you

Question -your client david smith runs a small it

QUESTION - Your client, David Smith runs a small IT consulting business specialising in computer software and techno

Inspection of a random sample of 22 aircraft showed that 15

Inspection of a random sample of 22 aircraft showed that 15 needed repairs to fix a wiring problem that might compromise

Effective hrmquestionhow can an effective hrm system help

Effective HRM Question How can an effective HRM system help facilitate the achievement of an organization's strate