Micro economics

question

Perfect price discrimination

answer

The seller of good x sells 1,000 units. Each unit is being sold fir the highest price each consumer is willing to pay.

question

Buyers

answer

Third-degree price discrimination is discrimination among.

question

It must dust the seller more to service some customers than others.

answer

Not a necessary condition of price discrimination.

question

There are barriers to entry, firms produce and sell either homogeneous or differentiated products.

answer

An assumption of the theory of oligopoly.

question

Oligopoly

answer

In what industry structure is the independence of firms a key characteristic?

question

Act in a manner as if their being only one form in the industry.

answer

The key behavioral assumption of the cartel theory is that oligopolists in an industry...

question

Cut back on output and raise the price of their product to earn higher profits.

answer

If the firms of an industry form a cartel, their goal is to

question

Individually rational behavior leads to a collectively non-cooperative outcome

answer

The "prisoners dilemma" game illustrates a case in which...

question

Price is below the minimum point of average variable cost

answer

A firm will choose to shut down in the short run when

question

It's marginal cost curve above average variable cost

answer

The short run individual supply curve of the perfectly competitive firm is

question

The same as the industry demand curve

answer

The demand curve facing a monopolist is always

question

Downward sloping and lies below the firms demand curve

answer

The monopolists marginal revenue curve is

question

Where the difference between what is coming in on the last unit and what is going out is zero.

answer

What does the profit maximizing or loss minimizing firm produce

question

Above its original level

answer

Demand increases in an increasing cost industry that is initially in a long run competitive equilibrium after full adjustment, price will be

question

Horizontal

answer

A constant cost industry has a long run supply curve that is

question

If profits are not zero, firms will enter or exit industry

answer

Why must profits be zero in a long run competitive equilibrium?

1 of 16

question

Perfect price discrimination

answer

The seller of good x sells 1,000 units. Each unit is being sold fir the highest price each consumer is willing to pay.

question

Buyers

answer

Third-degree price discrimination is discrimination among.

question

It must dust the seller more to service some customers than others.

answer

Not a necessary condition of price discrimination.

question

There are barriers to entry, firms produce and sell either homogeneous or differentiated products.

answer

An assumption of the theory of oligopoly.

question

Oligopoly

answer

In what industry structure is the independence of firms a key characteristic?

question

Act in a manner as if their being only one form in the industry.

answer

The key behavioral assumption of the cartel theory is that oligopolists in an industry...

question

Cut back on output and raise the price of their product to earn higher profits.

answer

If the firms of an industry form a cartel, their goal is to

question

Individually rational behavior leads to a collectively non-cooperative outcome

answer

The "prisoners dilemma" game illustrates a case in which...

question

Price is below the minimum point of average variable cost

answer

A firm will choose to shut down in the short run when

question

It's marginal cost curve above average variable cost

answer

The short run individual supply curve of the perfectly competitive firm is

question

The same as the industry demand curve

answer

The demand curve facing a monopolist is always

question

Downward sloping and lies below the firms demand curve

answer

The monopolists marginal revenue curve is

question

Where the difference between what is coming in on the last unit and what is going out is zero.

answer

What does the profit maximizing or loss minimizing firm produce

question

Above its original level

answer

Demand increases in an increasing cost industry that is initially in a long run competitive equilibrium after full adjustment, price will be

question

Horizontal

answer

A constant cost industry has a long run supply curve that is

question

If profits are not zero, firms will enter or exit industry

answer

Why must profits be zero in a long run competitive equilibrium?

Continue to order Get a quote

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Micro economics

Recent Posts

Recent Comments

Calculate the price of your order

Our guarantees

Money-back guarantee

Zero-plagiarism guarantee

Free-revision policy

Privacy policy

Fair-cooperation guarantee