ECO402 Quiz 3 Solution and Discussion


  • Cyberian's Gold

    Quiz # 03 Total Questions : 10
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  • Cyberian's Gold

    The monopolist has no supply curve because:
    a406ee45-d2a9-4aa8-af1a-2da4ca41e3af-image.png


  • Cyberian's Gold

    All of the following options are true for monopoly EXCEPT?
    6bd8650e-9ad2-4d03-a309-2b9dcb4cb9b6-image.png


  • Cyberian's Gold

    A market with few entry barriers and with many firms that sell differentiated products is:
    2bca289c-798c-4cd9-b2ff-478236480d2e-image.png


  • Cyberian's Gold

    The monopolist that maximizes profit:
    6f0963ad-afd2-4774-add2-7dcfcf547045-image.png


  • Cyberian's Gold

    Which of the following is true for both perfectly competitive and monopolistically competitive firms in the long run?

    07495329-3ddb-45e8-97fb-ea49419d872d-image.png


  • Cyberian's Gold

    If leisure is a normal good, then the income effect of a decrease in wage will:
    36f9eea4-20f4-43ce-a12e-4d03fb714ad8-image.png


  • Cyberian's Gold

    When a firm charges each customer the maximum price that the customer is willing to pay, the firm:
    b602ce4c-4e6e-4696-a1b5-874daf9c9592-image.png


  • Cyberian's Gold

    In the Bertrand model with homogeneous products,
    a64ffecc-b77f-4d81-9131-48a0d56c5c0c-image.png


  • Cyberian's Gold

    The most important factor in determining the long-run profit potential in monopolistic competition is:
    21aa66e7-96f8-47f5-a537-419e0c5ddd87-image.png


  • Cyberian's Gold

    Discrimination based upon the quantity consumed is referred to as ______________ price discrimination.

    c6d4b7b0-6353-4207-93e9-edaf1d201271-image.png



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