Question 1.1.(TCO 3) Which of the following is most likely to be an implicit cost for Company X? (Points : 1)
Forgone rent from the building owned and used by Company X
Rental payments on IBM equipment
Payments for raw materials purchased from Company Y
Transportation costs paid to a nearby trucking firm
Question 2.2.(TCO 3) The short run is characterized by (Points : 1)
plenty of time for firms to either enter or leave the industry.
increasing, but not diminishing returns.
fixed plant capacity.
zero fixed costs.
Question 3.3.(TCO 3) Economists would describe the U.S. automobile industry as (Points : 1)
purely competitive.
an oligopoly.
monopolistically competitive.
a pure monopoly.
Question 4.4.(TCO 3) If a firm in a purely competitive industry is confronted with an equilibrium price of $5, its marginal revenue (Points : 1)
may be either greater or less than $5.
will also be $5.
will be less than $5.
will be greater than $5.
Question 5.5.(TCO 3) Which of the following best approximates a pure monopoly? (Points : 1)
The foreign exchange market
The Kansas City wheat market
The only bank in a small town
The soft drink market
Question 6.6.(TCO 3) A natural monopoly occurs when (Points : 1)
long-run average costs decline continuously through the range of demand.
a firm owns or controls some resource essential to production.
long-run average costs rise continuously as output is increased.
economies of scale are obtained at relatively low levels of output.
Question 7.7.(TCO 3) The restaurant, legal assistance, and clothing industries are each illustrations of (Points : 1)
countervailing power.
homogeneous oligopoly.
monopolistic competition.
pure monopoly.
Our website has a team of professional writers who can help you write any of your homework. They will write your papers from scratch. We also have a team of editors just to make sure all papers are of HIGH QUALITY & PLAGIARISM FREE. To make an Order you only need to click Ask A Question and we will direct you to our Order Page at WriteDemy. Then fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Fill in all the assignment paper details that are required in the order form with the standard information being the page count, deadline, academic level and type of paper. It is advisable to have this information at hand so that you can quickly fill in the necessary information needed in the form for the essay writer to be immediately assigned to your writing project. Make payment for the custom essay order to enable us to assign a suitable writer to your order. Payments are made through Paypal on a secured billing page. Finally, sit back and relax.
Do you need an answer to this or any other questions?
About Writedemy
We are a professional paper writing website. If you have searched a question and bumped into our website just know you are in the right place to get help in your coursework. We offer HIGH QUALITY & PLAGIARISM FREE Papers.
How It Works
To make an Order you only need to click on “Order Now” and we will
direct you to our Order Page. Fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Are there Discounts?
All new clients are eligible for 20% off in their first Order. Our payment method is safe and secure.
