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davenport econ625 week 1 quiz




Question;?;At what point can a firm achieve a;profit maximizing quantity?;?;Question 2;3.5 out of 3.5 points;Which characteristic does not;describe a perfectly competitive market?;?;Question 3;3.5 out of 3.5 points;The basic law of demand says that all;other things being the same, _______________________.;?;Question 4;3.5 out of 3.5 points;Which of the following best describes;marginal revenue?;?;Question 5;3.5 out of 3.5 points;Suppose a factory is producing 100;units and the price of each unit is $10.If raising the price to $12 per unit results in a;drop in sales of 12 units, what is the price elasticity of demand,??;?;Question 6;3.5 out of 3.5 points;Which of the following did not contribute;to the high transaction related risks for U.S. potato sales in 1840?;?;Question 7;3.5 out of 3.5 points;What was a key contribution to the;dominance of the family-run small business in 1840?;?;Question 8;3.5 out of 3.5 points;What is throughput?;Response Feedback;?;Question 9;3.5 out of 3.5 points;What was one of the first;plant/factory types to use the ?American System? of manufacturing?;Response Feedback;Incorrect;?;Question 10;3.5 out of 3.5 points;What economics game theory concept is;demonstrated by the Erie Canal public works project?


Paper#57566 | Written in 18-Jul-2015

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