Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Business Economics Expert

For problems 1-3 refer to the graph below:

637_type of competition.jpg

problem 1: The type of competition LEAST described by the graph above is:

A. monopolistic
B. perfect
C. imperfect
D. market

problem 2: What could this type of firm due to increase profit:

A. Increase production
B. Reduce marginal cost
C. Increase price
D. It is nearly impossible in the long run.

problem 3: Where would this firm produce at:

A. Point D
B. Point C
C. Point B
D. Point A

problem 4: A coal burning electricity plant generates enough electricity to light most of a state, but they also produce air pollution. The air pollution is referred to as:

A. Unnecessary risk
B. Negative externality
C. Marginal cost
D. Opportunity cost

problem 5: Carl’s Clothes sells 500 shirts a week at an average $10 a shirt. It costs them $100 a day to keep the doors open, what is their average revenue for the week?: *

A. $500,000
B. $5,000
C. $4,300
D. $1,000

problem 6: At the beginning of the year the CPI was 300, but during the year inflation rose 5%, what was the CPI at the end of the year:

A. 350
B. 450
C. 315
D. 300

problem 7: CPI or consumer price index is best described as:

A. The overall price level
B. The disposable income of an average family
C. The price for an set basket of goods
D. How much people are willing to buy on average

problem 8: Which of the following scenarios would describe a decrease in supply:

A. Cheaper inputs
B. An increase in price
C. Higher employment
D. Shortage of inputs

problem 9: An electronic firm has found that their MC is still positive, meaning that they should hire more employees. When is it economically sound to stop hiring:

A. When the MC = 0
B. When the MC < 0
C. Just before MC = 0
D. When MC = TC

problem 10: A firm’s costs are described by the equation: TC(Y) = U + V + X(Y). Which variable(s) represent fixed cost:

A. X and Y
B. TC
C. U and V
D. U

Business Economics, Economics

  • Category:- Business Economics
  • Reference No.:- M92898
  • Price:- $40

Priced at Now at $40, Verified Solution

Have any Question? 


Related Questions in Business Economics

1what is the production possibilities curve and how is it

1. What is the production possibilities curve and how is it useful? 2. What 4 factors contribute to determining any point in this model? 3. How would we apply this framework to the real world? 4. You are planning to expa ...

Assignment -consider the following cobb douglas production

Assignment - Consider the following Cobb Douglas production function where Y is maize output, X 1 is labour input, and X 2 is the capital. Data for estimating this equation is given in the Table below. Y = β 0 X 1i β_1 X ...

Free trade and restricted trade - benefits and cost1-2

Free Trade and Restricted Trade - Benefits and Cost 1-2 paragraphs APA format/ no plagarism Using your own words, define both free and restricted trade. What do you feel are the benefits and the cost to having free trade ...

Allocation and allotments please respond to the following1

"Allocation and Allotments" Please respond to the following: 1. From the first e-Activity, examine and evaluate the disparity of Georgia budget allocation for education and property tax to the various localities. Based o ...

What is the relationship between economy business and

What is the relationship between economy, business, and society? -6 page essay (includes only ONE page for references,but the cover page is not included in the 6 page requirement) -Double spaced -APA format

Chapter 1 managing changeq1 figure 176 shows how bad an

Chapter 1 Managing change Q1 Figure 1.76 shows how bad an implementation can become. Action needs to be taken to prevent this kind of situation. What would you recommend should be done? Q2 You are the project manager for ...

Assessment task in this assessment students are required to

ASSESSMENT TASK: In this assessment, students are required to demonstrate their ability to apply economic principles learnt in this subject to analysing real-world business operations and evaluate how their long-run busi ...

Question 1 for the following situations calculate

Question 1 . For the following situations, calculate elasticity of demand and comment on the answer.                             When the price of commodity X was Rs. 12/-, 40 units it were demanded. When the price decre ...

Cite the sources used to answer this question provide the

Cite the source(s) used to answer this question. Provide the source(s) below your response and apply APA guidelines for references. 1) Class, is it possible for a business to show an accounting profit, but actually earn ...

Assessment task descriptiontopicstudents will be required

ASSESSMENT TASK: DESCRIPTION Topic Students will be required to choose a specific enterprise (it should ideally be one with which they are somewhat familiar) and develop a sustainability indicators monitoring system for ...

  • 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

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro

Describe what you learned about the impact of economic

Describe what you learned about the impact of economic, social, and demographic trends affecting the US labor environmen