05 Jun Question 17 Questions, mostly multiple choices: Micro-Economics
Question
17 Questions, mostly multiple choices: Micro-Economics
Response must be returned no later than October 12, by 12noon Est. If you cannot make this deadline, then I would cancel this order. By accepting this deadline you are agreeing to deliver on time.
1-35) Table 10.2 contains price, demand, and cost data for the Capri Theater, the only first‐run movie theater in a small town. What is its revenue from non‐students under the single price policy?
2-36)Table 10.2 containsprice,demand, and cost data for the CapriTheater,the onlyfirst‐runmovie theaterina small town.Whatisitstotalprofitunder the single price policy?
3-28) Sincea largeora small windturbinehavesimilarinstallation,operatingandmaintenance costs, buta large turbine has four timesthe generatingcapacity but costslessthan three timesasmuchasa small turbine,theaverage cost ofgeneratingelectricity withwindis:
A)constant at each output.
B) at first decreasingandthen increasing as output rises.
C)increasingasoutput increases.
D)decreasing asoutput increases.
6-15) Which of the followinggoods is likelyto have themost elastic demand?
A)movie B)electricity C)cigarettes D)gasoline
Figure 7.4
The above figure representsthe marginal utilityper dollarfor candybarsandoranges for Sophia.Thepriceofeachproductis $0.50,andSophia hasa budget of $4.
7-24) Refer to Figure7.4.If Sophia relies solelyongut feelings,shewillpurchase candy bars and oranges to maximizeutility.
8-12) Supposethat a newadvertising campaignextolling the virtuesof apple juiceissuccessful, anda majorfreezedestroys halfofthe countryʹs applecrop.What happensto the priceand quantity of apple juice?
A)Theequilibrium price of apple juicemight rise orfall andthe equilibrium quantity of apple juicefalls.
B)Theequilibrium price of apple juice risesand the equilibrium quantity of apple juice might riseorfall.
C)The equilibrium price of apple juicemight rise orfall andthe equilibrium quantity of apple juicerises.
D) The equilibrium price of apple juice falls and the equilibrium quantity of apple juice might rise or fall.
9-39)Inamonopolisticallycompetitive market,there:
A) aresubstantial barriers to entry.
B) are many firmsthat have slight controlover theprice theycharge fortheir product.
C)isonlyonefirm that sellsmanysimilaryet slightly different products.
D) are many firms selling an identicalproduct.
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