Question · Question 1 0 out of 4 points A student might describe information about the costs of productio

02 Jun Question · Question 1 0 out of 4 points A student might describe information about the costs of productio

Question
· Question 1

0 out of 4 points

A student might describe information about the costs of production as

· Question 2

4 out of 4 points

To an economist, the field of industrial organization answers which of the following questions?

· Question 3

4 out of 4 points

Economists assume that the typical person who starts her own business does so with the intention of

· Question 4

4 out of 4 points

How long does it take a firm to go from the short run to the long run?

· Question 5

4 out of 4 points

When a firm experiences constant returns to scale,

· Question 6

4 out of 4 points

When a firm experiences diseconomies of scale,

· Question 7

4 out of 4 points

A key characteristic of a competitive market is that

· Question 8

4 out of 4 points

In a competitive market,

· Question 9

4 out of 4 points

Which of the following firms is the closest to being a perfectly competitive firm?

· Question 10

4 out of 4 points

For a competitive firm,

· Question 11

4 out of 4 points

Economists assume that monopolists behave as

· Question 12

4 out of 4 points

Deadweight loss

· Question 13

4 out of 4 points

Which of the following pairs illustrates the two extreme examples of market structures?

· Question 14

4 out of 4 points

The general term for market structures that fall somewhere between monopoly and perfect competition is

· Question 15

4 out of 4 points

Monopolistic competition is characterized by which of the following attributes?

(i)

free entry

(ii)

product differentiation

(iii)

many sellers

· Question 16

4 out of 4 points

In a monopolistically competitive market,

· Question 17

4 out of 4 points

In monopolistic competition as well as in monopoly,

· Question 18

4 out of 4 points

A firm in a monopolistically competitive market faces a

· Question 19

4 out of 4 points

The theory of oligopoly provides another reason that free trade can benefit all countries because

· Question 20

4 out of 4 points

The likely outcome of the standard prisoners’ dilemma game is that

· Question 21

4 out of 4 points

In a game, a dominant strategy is

· Question 22

4 out of 4 points

Because a firm’s demand for a factor of production is derived from its decision to supply a good in the market, it is called a

· Question 23

4 out of 4 points

The purchase price of capital is

· Question 24

4 out of 4 points

Which of the following accurately describes how earnings from capital eventually get paid to households?

· Question 25

4 out of 4 points

Labor-market discrimination is evident when