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 monopolys 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 aSelect 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 monopsonys marginal benefit exceeds its marginal expenditure, it should _________.Select one:a. Reduce purchases,b. Raise purchasesc. Reduce or raise purchases, depending on the circumstances.
Paper#56086 | Written in 18-Jul-2015Price : $19