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economics mcq




Question;The;profit-maximizing advertising-sales ratio will increase with ________.;Select;one;a. Incremental margin;b. Advertising elasticity of demand;c. Both of the above.;If;a monopoly?s demand curve shifts;Select;one;a. The profit-maximizing price will change;b. The marginal revenue curve will also shift;c. Both of the above.;For;a buyer facing an upward-sloping supply curve, the marginal expenditure exceeds;the price because ________.;Select;one;a. Inframarginal units are cheaper;b. Supply is elastic;c. It must raise price to buy an additional;unit.;There;is no market supply curve in a;Select;one;a. Perfectly competitive market.;b. Monopolistically competitive market.;c. Monopolistic market.;d. Monopolistically competitive and;monopolistic markets.;Firms;have market power in;Select;one;a. Perfectly competitive markets.;b. Monopolistically competitive markets.;c. Monopolistic markets.;d. Monopolistically competitive markets and;monopolistic markets.;A;monopoly has the entire market demand, but the demand may be elastic or inelastic.;Select;one;a. True;b. False.;For;a seller facing a downward-sloping demand curve, the marginal revenue is less;than the price because ________.;Select;one;a. Inframarginal units are more expensive;b. Demand is elastic;c. It must reduce price to sell an additional;unit.;A;monopoly may set a price close to marginal cost because ________.;Select;one;a. Its demand is elastic;b. It has few competitors;c. The market is not contestable.;Competitors;may restrain competition through ________.;Select;one;a. Cartel;b. Horizontal integration;c. Both of the above.;If;a monopsony?s marginal benefit exceeds its marginal expenditure, it should;Select;one;a. Reduce purchases;b. Raise purchases;c. Reduce or raise purchases, depending on the;circumstances.


Paper#55658 | Written in 18-Jul-2015

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