The monopolist’s supply curve ?

Related Mcqs:

1. Suppose that the supply curve of tin is highly inelastic. If the demand curve of tin decrease and increase cyclically along the supply curve of tin, then in this market the size of the quantity fluctuation will bathe size of the price fluctuations ?

   A. relatively greater than
   B. relatively less than
   C. the same as
   D. Any of the above

2. Suppose we know that a monopolist is maximizing its profits. Which of the following is a correct inference? the monopolist has?

   A. maximized its total revenue
   B. set price equal to its average cost
   C. equated marginal revenue and marginal cost
   D. maximized the difference between marginal revenue and marginal cost.

3. Suppose that the demand curve for tin is highly inelastic. If the supply curve of tin decrease and increase cyclically along the demand curve for tin then in this market the size of the price fluctuation will be __________ the size of the quantity fluctuations?

   A. relatively greater then
   B. relatively less than
   C. the same as
   D. any of the above

4. In the short run, the competitive firm’s supply curve is the portion of the marginal cost curve that lies above the average variable cost curve?

   A. Upward-sloping portion of the average total cost curve
   B. upward-sloping portion of the average variable cost curve
   C. portion of the marginal cost curve that lies above the average total cost curve.
   D. entire marginal cost curve.
   E. portion of the marginal-cost curve that lies above the average variable cost curve

5. For a competitive firm, its short run supply curve is ______ and its long run supply curve is _____?

   A. SMC, LMC
   B. SMC above SAVC, LMC above LAC
   C. SMC below SAVC, LMC above LAC
   D. SMC below SAVC, LMC bellow LAC

6. The short run marginal cost curve cuts the short run total cost curve and short run average variable cost curve ?

   A. At their lowest points
   B. When they are declining
   C. When they are increasing
   D. When marginal revenue is zero

7. Assuming a downward sloping demand curve and upward sloping supply curve a higher equilibrium price may be caused by ?

   A. An fall in demand
   B. An increase in supply
   C. improvements in production technology
   D. An increase in demand

8. Which of the following statements is true regarding the long-run aggregate supply curve? The long-run aggregate supply cruve ?

   A. Is vertical because an equal change in all prices and wages leaves output unaffected
   B. is positively sloped because price expectations and wages tend to be fixed is the long run
   C. shifts right when the government raises the minimum wage
   D. shifts left when the natural rate of unemployment falls

9. If an input necessary for production is in limited supply so that an expansion of the industry raises costs for all existing firms in the market, then the long-run market supply curve for a good could be ?

   A. perfectly inelastic
   B. perfectly elastic
   C. upward sloping
   D. downward sloping

10. A monopolist maximizes profit by producing the quantity at which ?

    A. marginal revenue equals marginal cost
    B. marginal revenue equals price
    C. marginal cost equals price
    D. marginal cost equals demand
    E. none of these answers