A. breakfast
B. cotton
C. video games
D. beer
Related Mcqs:
- Which of the following is true regarding the production and pricing decisions of monopolistically competitive firms? Monopolistically competitive firms choose the quantity at which marginal cost equals ?
A. marginal revenue and then use the demand curve to determine the price consistent with this quantity
B. average total cost and then use the supply curve to determine the price consistent with this quantity
C. marginal revenue and then use the supply curve to determine the price consistent with this quantity
D. average total cost and then use the demand curve to determine the price consistent with this quantity - Which of the following is true with regard to monopolistically competitive firms scale of production and pricing decisions Monopolistically competitive firms produce ?
A. at the efficient scale and charge a price equal to marginal cost
B. at the efficient scale and charge a price above marginal cost
C. With excess capacity and charge a price above marginal cost
D. With excess capacity and charge a price equal to marginal cost - Which of the following is not a characteristic of a monopolistically competitive market ?
A. free entry and exit
B. long run economic profits
C. many sellers
D. differentiated products - When firms enter a monopolistically competitive market and the business-stealing externality is larger than the product-variety externality then ?
A. there are too many firms in the market and market efficiency could be increased if firms exited the market
B. the number of firms in the market is optimal and the market is efficient
C. There are too few firms in the market and market efficiency could be be increased with additional entry
D. The only way to improve efficiency in this market is for the government to regulate it like a natural monopoly. - In the short run, if the price is above average total cost in a monopolistically competitive market, the firm makes ?
A. losses and firms exit the market
B. profits and firms exit the market
C. losses and firms enter the market
D. profits and firms enter the market - In a competitive market, which of the following is least, likely to be the source of a persistent discriminatory wage differential ?
A. All of these answers could be source of a persistent discriminatory wage differential
B. the customer
C. the government
D. the employer - A monopolistically competitive firm that is incurring a loss will produce as long as the price that the firm charges is sufficient to cover ?
A. marginal costs
B. fixed costs
C. variable costs
D. advertising costs - A firm in a monopolistically competitive industry ?
A. sells a fixed amount of output regardless of price.
B. must raise price to sell more output
C. can sell an infinite amount of output at the market-determined price
D. must lower price to sell more output. - Which of the following market would most closely satisfy the requirements for a competitive market ?
A. electricity
B. cable television
C. cola
D. milk
E. All of these answers represent competitive markets - Which of the following government policies is least likely to increase likely to increase growth in Africa ?
A. increase expenditure on public education
B. eliminate civil war
C. All of these answers would increase growth
D. increase restrictions on the importing of American tractors and electronics
