A. Limit
B. Factor
C. Quota
D. Quotient
Related Mcqs:
- Suppose that the firms collude and become a cartel The best level of output for the cartel as a whole is ___________ the price equals __________ and profits total __________?
A. 2 million barrels per day, $100, $60 million
B. 4 million barrels per day, $80, $160 million
C. 6 million barrels per day, $60, $60 million
D. 8 million barrels per day, $40, $20 million - 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 - When you consume good Q, not only do you benefit form consuming the good but other people benefit from your consumption as well, if firms produce good Q where P = MC, firms will be producing ?
A. less than the efficient level of output
B. more than the efficient level of output
C. so that consumer surplus is zero
D. the efficient level of output - 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 - In monopolistic competition of firms are making abnormal profit other firms will enter and ?
A. The marginal cost will shift outwards
B. the demand curve will shift inwards
C. The average cost will shift downwards
D. The average variable cost will increase - If oligopolists engage in collusion and successfully from a cartel, the market outcome is ?
A. the same as if it were served by competitive firms.
B. efficient because cooperation improves efficiency
C. the same as if it were served by a monopoly.
D. known as a Nash equilibrium - In a cartel ?
A. Firms compete against each other
B. Price wars are common
C. Firms use price to win market share from competitors
D. Firms collude - A graph showing all the combinations of capital and labor that can used to produce a given amount of output is ?
A. an indifference curves.
B. an isoquant.
C. an isocost line
D. a production functions - To be considered a good candidate for export cartel, a commodity should ?
A. be a manufactured good
B. be a primary product
C. have a low price elasticity of supply
D. have a high price elasticity of demand - The policy cartel on debt reduction refers to the_______________?
A. screening of debtors based on their regional location
B. World Bank requiring LDCs seconded by a DC to get loan reduction
C. loan denial to crisis-stricken highly indebted countries
D. None of the above
