Model Questions
Peter Barth
Economics 112 – Fall 2001
1. Which form of business organization is the most common in the United
States?
a.
b.
c.
d.
e.
sole proprietorship**
partnership
corporation
nonprofit organization
S-corporation
2. All of the following are advantages of partnerships except one. Which
is the exception?
a.
b.
c.
d.
e.
they are relatively easy to start
their profits are taxed once as personal income
their liability is limited by each partner's share of the
business **
a greater opportunity for specialization by the owners
a continuation of the firm if one partner dies
3. Owners of corporations are referred to most frequently as
a.
b.
c.
d.
e.
entrepreneurs
lien holders
limited partners
managers
stockholders **
4. Stockholders share in the profits of a corporation
a.
b.
c.
d.
e.
in proportion to their years of stock ownership
in proportion to their ownership of stock**
equally regardless of number of shares owned
only if they participate in firm management decisions
only if they attend stockholders' meetings
5. Which of the following accounts for the largest source of revenue for
the federal government?
a.
b.
c.
d.
e.
sales tax
federal property tax
personal income tax**
corporate income tax
borrowing
6. The second largest source of tax revenue for the federal government is
a.
b.
c.
d.
e.
payroll taxes **
the personal income tax
the corporate income tax
excise taxes
the sales tax
7. The largest source of federal government revenue is
a.
b.
c.
d.
e.
corporate income taxes
individual income taxes**
payroll taxes
sales and excise taxes
tariffs on imported goods and other customs fees and duties
8. Which of the following taxes is most clearly based on the benefitsreceived principle of taxation?
a.
b.
c.
d.
e.
corporate income tax
gasoline tax **
personal income tax
cigarette tax
sales tax
9. Which of the following is not based on the benefits-received principle
of taxation?
a.
b.
c.
d.
e.
charging a fee for use of public golf courses
differences between residential and out-of-state college tuition
**
the excise tax on gasoline
toll booths on a highway
charging a fee per bag to haul away garbage
10. Which of the following taxes is based on the benefits-received
principle?
a.
b.
c.
d.
e.
corporate income taxes
personal income taxes
property taxes
gasoline excise taxes **
user fees that collect the same amount from each person
11. Which of the following is not necessarily a characteristic of perfect
competition?
a.
b.
c.
d.
e.
low prices **
a large number of buyers and sellers
a homogeneous product
perfect information
easy entry and exit in the long run
12. Which of the following is likely to be present in a perfectly
competitive market?
a.
b.
c.
d.
e.
patents
government licenses
nonprice competition such as advertising
high capital costs
firms producing identical products**
13.
Assume that an industry is perfectly competitive. In this industry we
are likely to find
a.
b.
c.
d.
e.
firms producing a wide variety of products
barriers to entry
no profit possible in the short run
firms that do not advertise **
firms that can choose the price of their products
14. A firm in a perfectly competitive market **
a.
b.
c.
d.
e.
can raise the price of its product and sell more output
can lower the price of its product and sell more output
can increase its supply to lower the price
can decrease its supply to raise the price
accepts the market price for its product
15. The demand curve for the output of a particular perfectly competitive
firm is
a.
b.
c.
d.
e.
perfectly inelastic
perfectly elastic**
unit elastic
downward sloping
nonlinear
16. Suppose Adam's Apples, a small firm supplying apples in a perfectly
competitive market, decides to cut its production in half this year. As
a result, the
a.
b.
c.
d.
e.
market price will rise
market price will fall
market quantity will rise
market price will not be affected **
total expenditures on apples will rise
17. Suppose the equilibrium price in a perfectly competitive industry is
$100 and a firm in the industry charges $112. Which of the following
will happen?
a.
b.
c.
d.
e.
The
The
The
The
The
firm will not sell any of its output.**
firm will sell more output than its competitors.
firm's profits will increase.
firm's revenue will increase.
firm will gradually take over the entire industry.
18. Homogeneous products are
a.
b.
c.
d.
e.
rare and expensive
patented and licensed
highly differentiated
uniform or standardized **
ones without impurities
19.
Economic theory assumes that the goal of firms is to maximize
a.
b.
c.
d.
e.
sales
total revenue
profit **
price
utility
20. The total revenue curve for a perfectly competitive firm
a.
b.
c.
d.
e.
is horizontal
is vertical
has a diminishing slope as output increases
has an increasing slope as output increases
has a constant slope as output increases**
21. If, as a firm increases its rate of output, total cost increases as
well,
a.
b.
c.
d.
e.
profit cannot be maximized
revenue cannot be maximized
cost cannot be minimized
marginal cost is increasing
marginal cost is positive**
22. The total revenue curve for a perfectly competitive firm
a.
b.
c.
d.
e.
is a vertical line intersecting the horizontal axis
is a horizontal line intersecting the vertical axis
starts part way up the vertical axis, then slopes upward in a
backwards-S curve
is a straight line starting from the origin and sloping upward**
starts at the origin, sloping upward at first and then sloping
downward
23. If a firm in perfect competition charges the market price of $14 per
unit,
a.
b.
c.
d.
e.
its marginal revenue is $14, and its average revenue is less than
$14 per unit
it will sell no output
its average revenue is $14, and its marginal revenue is less than
$14 per unit
its average revenue is $14, and its marginal revenue is $14 **
its average and marginal revenue are $14 only for the first unit
sold
24. Perfectly competitive firms that earn an economic profit in the short
run choose the output that
a.
b.
c.
d.
e.
maximizes
minimizes
maximizes
maximizes
maximizes
total revenue
total cost
the difference between total revenue and total cost**
the difference between total revenue and explicit cost
the difference between total revenue and implicit cost
25. The golden rule of profit maximization states that any firm maximizes
profit by producing where
a.
b.
c.
d.
e.
demand is unit elastic, and total revenue is greatest
price equals average revenue
price equals marginal revenue
price equals marginal cost
marginal cost equals marginal revenue**
26. For a perfectly competitive firm,
a.
b.
c.
d.
e.
P
P
P
P
P
=
=
>
<
<
AR
AR
AR
AR
AR
at
at
at
at
at
all
the
all
the
all
levels of output**
profit-maximizing quantity only
levels of output
profit-maximizing quantity only
levels of output
27. If average revenue equals average total cost,
a.
b.
c.
d.
e.
total revenue is maximized
average revenue is maximized
average total cost is minimized
economic profit is maximized
economic profit is zero **
28. A firm in a perfectly competitive industry is maximizing profit at Q =
3,000. Then its fixed costs increase. The profit-maximizing output is
now
a.
b.
c.
d.
e.
greater than 3,000 and profits decrease
less than 3,000 and profits decrease
greater than 3,000 and profits are unchanged
equal to 3,000 and profits decrease**
equal to 3,000 and profits increase
29. If Harry's Blueberries, a perfectly competitive firm, shuts down in the
short run, Harry must pay
a.
b.
c.
d.
e.
variable costs but not fixed costs
no costs at all
variable costs and fixed costs
only variable costs
only fixed costs**
30. If a perfectly competitive firm is incurring short-run losses, it
a.
b.
c.
d.
e.
then will incur long-run
will shut down
will continue to operate
covered
will continue to operate
are covered**
will raise prices in the
losses
in the short run if its fixed costs are
in the short run if its variable costs
short run
31. At its present rate of output, 200 units, a perfectly competitive firm
has total costs of $10,000, marginal cost of $38, and fixed costs of
$2,000, and it charges the market price of $38 per unit. To maximize
profit or minimize loss, this firm should
a.
b.
c.
d.
e.
increase output
reduce output but not to zero
maintain the present rate of output
shut down**
raise the price
32. Claude's Copper Clappers sells clappers for $65 each in a perfectly
competitive market. At its present rate of output, Claude's marginal
cost is $65, average variable cost is $45, and average total cost is
$67. To maximize his profit or minimize his loss, Claude should
a.
b.
c.
d.
e.
increase output
reduce output but not to zero
maintain the present rate of output**
shut down
raise the price
33. A perfectly competitive firm finds that:
Average total cost is $25;
Average variable cost is $15;
Marginal cost is $20 and increasing;
Price of the product is $22.
This firm should
a.
b.
c.
d.
e.
produce more output**
raise the price of its product
reduce production without shutting down
shut down (reduce output to zero)
do nothing (it is currently maximizing profit)
34. Productive efficiency occurs in markets when
a.
b.
c.
d.
e.
goods are produced at the lowest possible average total cost**
goods are produced at the lowest average variable cost
goods are produced at the lowest marginal cost
goods are produced at the lowest average fixed cost
the economy is producing the maximum quantity of goods and
services it can
35. Suppose, at its present rate of output, a perfectly competitive firm's
marginal revenue exceeds both its marginal cost and average variable
cost. To maximize profit, the firm should
a.
b.
c.
d.
e.
lower the price
raise the price
increase output**
reduce output
maintain its current rate of output
36. If two perfectly competitive firms produce the same quantity at the
market price, then, at that quantity, they must have the same
a.
b.
c.
d.
e.
marginal cost and average total cost
marginal cost and average fixed cost
average total cost and average fixed cost
average fixed cost and average variable cost
marginal cost**
37. In long-run equilibrium,
a.
b.
c.
d.
e.
perfectly competitive
earn economic profit
perfectly competitive
earn economic profit
perfectly competitive
economic profit
perfectly competitive
no entry occurs in an
industry**
firms in a decreasing-cost industry can
firms in an increasing-cost industry can
firms in a constant-cost industry can earn
firms can earn only a normal profit
increasing-cost perfectly competitive
38. Which of the following is true for a perfectly competitive firm in the
long run?
a.
b.
c.
d.
e.
MR
MR
MC
MR
MR
=
=
=
=
=
MC = ATC**
MC = AFC
ATC = AFC
MC > ATC
MC > AVC
39. Which of the following is not a condition of long-run equilibrium for
perfectly competitive firms?
a.
b.
c.
d.
e.
price is
price is
price is
price is
economic
equal to marginal cost
equal to minimum short-run average total cost
equal to minimum long-run average cost
equal to marginal revenue
profit is positive**
40. Allocative efficiency means that
a.
b.
c.
d.
e.
firms have maximized production
all mutually beneficial trades have taken place**
the next unit sold will increase total surplus
producer surplus is maximized
no mutually beneficial trades have occurred
41. In the market structure of monopoly, new firms
a.
b.
c.
d.
e.
cannot profitably enter the industry, even in the long run**
may freely enter and leave the industry in both the short run and
the long run
may freely enter and leave the industry in the long run only
may freely enter and leave the industry in the short run only
have no incentive to enter the industry, even if economic profits
are present
42. Which of the following is not considered a barrier to entry?
a.
b.
c.
d.
e.
patents
government licenses
economies of scale
diseconomies of scale**
control over essential resources
43. Which of the following describes the market structure of monopoly?
a.
b.
c.
d.
e.
many firms with some control over price, and considerable product
differentiation
many firms with no control over price, producing identical
products with no differentiation
a few firms with some control over price, producing similar
products which are close substitutes
a few firms with no control over price, producing highly
differentiated products
a single firm producing all of the output for the industry**
44. A natural monopoly results when a firm has
a.
b.
c.
d.
e.
a license
a patent
official approval to produce a product
decreasing average costs over the range of market demand**
exclusive use of a natural resource
45. The demand curve faced by a firm with a patent on a marketable product
a.
b.
c.
d.
e.
is horizontal
is vertical
slopes upward
slopes downward**
is nonexistent
46. Which of the following is true of marginal revenue for a monopolist
that charges a single price?
a.
b.
c.
d.
e.
P = MR because there are no close substitutes for the
monopolist's product.
P > MR because the monopolist must decrease price on all units
sold in order to sell an additional unit.**
P < MR because the monopolist must decrease price on all units
sold in order to sell an additional unit.
AR = MR because there are no close substitutes for the
monopolist's product.
P = MR only at the profit-maximizing quantity.
47. Suppose that a monopolist must choose between two points on its demand
curve: it can sell 100 units for $3, or it can sell 140 for $2. Which
of the following is true?
a.
b.
c.
d.
e.
The monopolist is facing elastic demand.
The monopolist is facing unit elastic demand.
The monopolist is facing inelastic demand.**
The monopolist is facing perfectly elastic demand.
The elasticity of the demand curve the monopolist faces cannot be
determined with the information given.
48. Suppose that a monopolist must choose between two points on its demand
curve: it can sell 100 units for $3, or it can sell 150 for $2. Which
of the following is true?
a.
b.
c.
d.
e.
The monopolist is facing elastic demand.
The monopolist is facing unit elastic demand.**
The monopolist is facing inelastic demand.
The monopolist is facing perfectly elastic demand.
The elasticity of the demand curve the monopolist faces cannot be
determined with the information given.
49. A profit-maximizing monopolist never produces along the ________
portion of the demand curve because marginal revenue is ________ there.
a.
b.
c.
d.
e.
elastic; positive
elastic; negative
inelastic; negative**
inelastic; positive
inelastic; zero
50. Negative marginal revenue means that
a.
b.
c.
d.
e.
the firm is maximizing its economic profit
the firm is maximizing its total revenue
total revenue is increasing at an increasing rate as output
increases
total revenue is increasing at a decreasing rate as output
increases
total revenue is decreasing as output increases**
51. Which of the following is true at the profit-maximizing quantity for
both a perfectly competitive firm and a monopoly?
a.
b.
c.
d.
e.
Price equals marginal cost.
Price is greater than marginal cost.
Marginal revenue equals marginal cost.**
Marginal revenue is less than marginal cost.
Marginal revenue is greater than average revenue.
52. A monopolist faces an upward-sloping marginal cost curve. Its profitmaximizing quantity will be
a.
b.
c.
d.
e.
at the minimum point of the marginal cost curve
less than the (total) revenue-maximizing quantity**
equal to the (total) revenue-maximizing quantity
in the unit elastic segment of the demand curve
in the inelastic segment of the demand curve
53. In the short run, how will a profit-maximizing monopolist react if its
marginal costs suddenly increase? It will
a.
b.
c.
d.
e.
lower price to expand revenue possibilities
restrict output to extract a higher price from customers**
maintain the current price if profits are still positive
increase plant size to lower marginal costs
decrease plant size to lower marginal costs
54. You are hired as a production analyst at Monopoly-R-Us and you estimate
that, at current output, demand is inelastic and marginal cost is
positive. You advise your superiors that they can increase profit by
a.
b.
c.
d.
e.
raising price until demand becomes unit elastic
raising price into the elastic range**
lowering price until demand becomes unit elastic
lowering price into the elastic range
reduce output without changing price
55. Firms can earn economic profits even in the long run if
a.
b.
c.
d.
e.
they charge the highest price possible
there is a cost-reducing technological change
there are significant barriers to entry**
marginal revenue equals marginal cost
price is less than average variable cost at all rates of output
56. Why would we be likely to observe dentists engaging in price
discrimination?
a.
b.
c.
d.
e.
Dental care is expensive.
All dentists are basically alike.
It is very important to exercise care in choosing a dentist.
It is nearly impossible to resell the services of a dentist.**
The demand for dentists is very inelastic.
57. A monopolistically competitive firm can raise price somewhat due to
a.
b.
c.
d.
e.
product differentiation**
barriers to entry
product similarity
its homogeneous product
high tariffs
58. When firms differentiate their products, they
a.
b.
c.
d.
e.
provide information to consumers with no additional use of
productive resources
always increase their profits
always create real differences among products
frequently create artificial or superficial differences among
products, thus raising production costs**
usually strain the physical capacity of their plants
59. In the short run, Sam Malone's bar, Cheers, a firm in monopolistic
competition, is
a.
b.
c.
d.
e.
guaranteed to earn
guaranteed to earn
guaranteed to earn
guaranteed to earn
not guaranteed any
zero economic profit
economic profit
an economic loss
either zero or positive economic profit
level of economic profit**
60. A monopolistically competitive firm is producing an output level where
marginal revenue is greater than marginal cost. This firm should
________ quantity and ________ price to increase profit or reduce
losses.
a.
b.
c.
d.
e.
increase,
increase;
decrease;
decrease;
increase;
increase
decrease**
increase
decrease
not change
61. In the long run, a monopolistically competitive firm will
a.
b.
c.
d.
e.
produce a greater variety of goods than do firms in other market
structures
produce a greater output level than would a perfectly competitive
firm
produce where price equals average total cost**
earn an economic profit
suffer a loss because of its advertising budget
62. Because of easy entry, monopolistically competitive firms will
a.
b.
c.
d.
e.
produce at the lowest average total cost
charge a price equal to marginal cost
earn no economic profit in the long run**
take advantage of all economies of scale
earn no economic profit in the short run
63. An oligopoly is characterized by
a.
b.
c.
d.
e.
few firms, which have control over market price**
many firms and some barriers to entry
a large number of firms and no barriers to entry
a single firm and no barriers to entry
a single firm and significant barriers to entry
64. In an oligopoly, the demand curve facing an individual firm depends
upon
a.
b.
c.
d.
e.
the
the
the
the
the
behavior of competing firms**
shape of the firm's average total cost curve
shape of the firm's marginal cost curve
firm's supply curve
shape of the firm's average variable cost curve
65. Which of the following is an example of an actual cartel?
a.
b.
c.
d.
e.
the three largest cereal producers in the United States
General Motors, Ford, and Chrysler (the "Big Three")
the Organization of Petroleum Exporting Countries (OPEC)**
the three major U.S. cigarette manufacturers
ABC, NBC, and CBS
66. If zinc suppliers are successful in forming an international zinc
cartel, they will experience
a.
b.
c.
d.
e.
lower output and higher prices, which discourage the entry of new
firms into the industry
lower output, higher prices, and the need to organize an effort
to prevent the entry of new firms into the industry**
higher output and higher prices, which discourage the entry of
new firms into the industry
higher output, higher prices, and the need to organize an effort
to prevent the entry of new firms into the industry
none of the above
67. The kinked demand curve theory explains oligopolies in which
competitors
a.
b.
c.
d.
e.
ignore all price changes
match price increases but not decreases
match price decreases but not price increases**
match price increases and price decreases
match all quality changes
68. In the kinked demand theory, the firm faces a more elastic demand
a.
b.
c.
d.
e.
above the kink because there the firm will not lose many
customers to its rivals
above the kink because there its customers will be more willing
to switch to its rivals' products than they would be below the
kink**
below the kink because there the firm will not gain many
customers from its rivals
below the kink because there its customers will be more willing
to switch to its rivals' products than they would be above the
kink
at the kink than at any other place on the demand curve
69. Where an oligopolist's demand curve is kinked,
a.
b.
c.
d.
e.
there is
there is
there is
marginal
marginal
a gap in the marginal revenue curve**
a horizontal marginal revenue curve
a similar kink in the marginal revenue curve
revenue equals price
revenue is zero
70. Firms in oligopoly do not achieve allocative efficiency because
a.
b.
c.
d.
e.
marginal
marginal
marginal
price is
price is
cost equals marginal revenue
cost is greater than marginal revenue
cost is less than marginal revenue
greater than marginal cost**
less than marginal cost
71. The two market structures at the extremes in terms of performance and
number of firms are
a.
b.
c.
d.
e.
perfect competition and monopolistic competition
pure monopoly and oligopoly
perfect competition and pure monopoly**
monopolistic competition and oligopoly
monopolistic competition and pure monopoly
Answer Key
Barth Econ. 112 Fall 2001
Model Questions
1.
>
a
TOPIC: Kinds of Firms
MI_5e04 Ch 4 #69 (MC #69)
DIF: 1
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
>
>
>
c
TOPIC: Kinds of Firms
MI_5e04 Ch 4 #73 (MC #73)
DIF: 3
e
TOPIC: Kinds of Firms
MI_5e04 Ch 4 #78 (MC #78)
DIF: 1
b
TOPIC: Kinds of Firms
MI_5e04 Ch 4 #80 (MC #80)
DIF: 3
>
c
TOPIC: Sources of Government Revenue
MI_5e04 Ch 4 #136 (MC #136)
DIF: 1
>
a
TOPIC: Sources of Government Revenue
MI_5e04 Ch 4 #137 (MC #137)
DIF: 3
>
b
TOPIC: Sources of Government Revenue
MI_5e04 Ch 4 #138 (MC #138)
DIF: 1
>
b
TOPIC: Tax Principles and Tax Incidence
MI_5e04 Ch 4 #145 (MC #145)
DIF: 3
>
b
TOPIC: Tax Principles and Tax Incidence
MI_5e04 Ch 4 #146 (MC #146)
DIF: 3
>
d
TOPIC: Tax Principles and Tax Incidence
MI_5e04 Ch 4 #148 (MC #148)
DIF: 3
>
a
TOPIC: Perfectly Competitive Market Structure
MI_5e08 Ch 8 #6 (MC #6)
DIF: 1
12.
13.
14.
15.
16.
17.
18.
19.
20.
21.
22.
>
e
TOPIC: Perfectly Competitive Market Structure
MI_5e08 Ch 8 #13 (MC #13)
DIF: 3
>
d
TOPIC: Perfectly Competitive Market Structure
MI_5e08 Ch 8 #16 (MC #16)
DIF: 3
>
e
TOPIC: Perfectly Competitive Market Structure
MI_5e08 Ch 8 #17 (MC #17)
DIF: 3
>
b
TOPIC: Demand under Perfect Competition
MI_5e08 Ch 8 #27 (MC #27)
DIF: 1
>
d
TOPIC: Demand under Perfect Competition
MI_5e08 Ch 8 #30 (MC #30)
DIF: 3
>
a
TOPIC: Demand under Perfect Competition
MI_5e08 Ch 8 #36 (MC #36)
DIF: 3
>
d
TOPIC: Demand under Perfect Competition
MI_5e08 Ch 8 #41 (MC #41)
DIF: 1
>
c
TOPIC: Short-Run Profit Maximization
MI_5e08 Ch 8 #45 (MC #45)
DIF: 1
>
e
TOPIC: Total Revenue minus Total Cost
MI_5e08 Ch 8 #47 (MC #47)
DIF: 3
>
e
TOPIC: Total Revenue minus Total Cost
MI_5e08 Ch 8 #48 (MC #48)
DIF: 5
>
d
TOPIC: Total Revenue minus Total Cost
MI_5e08 Ch 8 #59 (MC #59)
DIF: 1
23.
24.
25.
26.
27.
28.
29.
30.
31.
32.
33.
>
d
TOPIC: Marginal Cost Equals Marginal Revenue in Equilibrium
MI_5e08 Ch 8 #68 (MC #68)
DIF: 1
>
c
TOPIC: Marginal Cost Equals Marginal Revenue in Equilibrium
MI_5e08 Ch 8 #69 (MC #69)
DIF: 1
>
e
TOPIC: Marginal Cost Equals Marginal Revenue in Equilibrium
MI_5e08 Ch 8 #78 (MC #78)
DIF: 3
>
a
TOPIC: Economic Profit in the Short Run
MI_5e08 Ch 8 #100 (MC #100)
DIF: 3
>
e
TOPIC: Economic Profit in the Short Run
MI_5e08 Ch 8 #103 (MC #103)
DIF: 5
>
d
TOPIC: Fixed Costs and Minimizing Losses
MI_5e08 Ch 8 #106 (MC #106)
DIF: 5
>
e
TOPIC: Fixed Costs and Minimizing Losses
MI_5e08 Ch 8 #111 (MC #111)
DIF: 3
>
d
TOPIC: Fixed Costs and Minimizing Losses
MI_5e08 Ch 8 #114 (MC #114)
DIF: 3
>
d
TOPIC: Shutting Down in the Short Run
MI_5e08 Ch 8 #141 (MC #141)
DIF: 5
>
c
TOPIC: Shutting Down in the Short Run
MI_5e08 Ch 8 #139 (MC #139)
DIF: 5
>
a
TOPIC: Shutting Down in the Short Run
MI_5e08 Ch 8 #154 (MC #154)
DIF: 5
34.
35.
36.
37.
38.
39.
40.
41.
42.
43.
44.
>
a
TOPIC: Productive Efficiency
MI_5e08 Ch 8 #236 (MC #236)
DIF: 1
>
c
TOPIC: The Firm and Industry Short-Run Supply Curves
MI_5e08 Ch 8 #163 (MC #163)
DIF: 3
>
e
TOPIC: The Firm and Industry Short-Run Supply Curves
MI_5e08 Ch 8 #166 (MC #166)
DIF: 5
>
e
TOPIC: Zero Economic Profit in the Long Run
MI_5e08 Ch 8 #190 (MC #190)
DIF: 3
>
a
TOPIC: Zero Economic Profit in the Long Run
MI_5e08 Ch 8 #191 (MC #191)
DIF: 3
>
e
TOPIC: Zero Economic Profit in the Long Run
MI_5e08 Ch 8 #194 (MC #194)
DIF: 3
>
b
TOPIC: Allocative Efficiency
MI_5e08 Ch 8 #243 (MC #243)
DIF: 3
a
TOPIC: Economies of Scale
MI_5e09 Ch 9 #14 (MC #14)
DIF: 1
d
TOPIC: Economies of Scale
MI_5e09 Ch 9 #15 (MC #15)
DIF: 1
e
TOPIC: Economies of Scale
MI_5e09 Ch 9 #16 (MC #16)
DIF: 3
d
TOPIC: Economies of Scale
MI_5e09 Ch 9 #20 (MC #20)
DIF: 3
>
>
>
>
45.
46.
47.
48.
49.
50.
51.
52.
53.
54.
55.
>
d
TOPIC: Revenue for the Monopolist
MI_5e09 Ch 9 #31 (MC #31)
DIF: 3
>
b
TOPIC: Revenue Schedule
MI_5e09 Ch 9 #38 (MC #38)
DIF: 3
c
TOPIC: Revenue Curves
MI_5e09 Ch 9 #61 (MC #61)
DIF: 3
b
TOPIC: Revenue Curves
MI_5e09 Ch 9 #62 (MC #62)
DIF: 3
c
TOPIC: Revenue Curves
MI_5e09 Ch 9 #70 (MC #70)
DIF: 1
e
TOPIC: Revenue Curves
MI_5e09 Ch 9 #73 (MC #73)
DIF: 3
c
TOPIC: Profit Maximization
MI_5e09 Ch 9 #83 (MC #83)
DIF: 3
b
TOPIC: Profit Maximization
MI_5e09 Ch 9 #100 (MC #100)
DIF: 3
b
TOPIC: Profit Maximization
MI_5e09 Ch 9 #120 (MC #120)
DIF: 5
b
TOPIC: Profit Maximization
MI_5e09 Ch 9 #123 (MC #123)
DIF: 3
>
>
>
>
>
>
>
>
>
c
TOPIC: Long-Run Profit Maximization
MI_5e09 Ch 9 #172 (MC #172)
DIF: 1
56.
57.
58.
59.
60.
61.
62.
63.
64.
65.
66.
>
d
TOPIC: Conditions for Price Discrimination
MI_5e09 Ch 9 #218 (MC #218)
DIF: 3
>
a
TOPIC: Characteristics of Monopolistic Competition
MI_5e10 Ch 10 #11 (MC #11)
DIF: 1
>
d
TOPIC: Product Differentiation
MI_5e10 Ch 10 #20 (MC #20)
DIF: 1
>
e
TOPIC: Short-Run Profit Maximization or Loss Minimization
MI_5e10 Ch 10 #39 (MC #39)
DIF: 3
>
b
TOPIC: Short-Run Profit Maximization or Loss Minimization
MI_5e10 Ch 10 #51 (MC #51)
DIF: 1
>
c
TOPIC: Zero Economic Profit in the Long Run
MI_5e10 Ch 10 #61 (MC #61)
DIF: 3
>
c
TOPIC: Zero Economic Profit in the Long Run
MI_5e10 Ch 10 #64 (MC #64)
DIF: 3
>
a
TOPIC: Varieties of Oligopoly
MI_5e10 Ch 10 #127 (MC #127) DIF: 1
>
a
TOPIC: Varieties of Oligopoly
MI_5e10 Ch 10 #130 (MC #130) DIF: 3
>
c
TOPIC: Models of Oligopoly
MI_5e10 Ch 10 #149 (MC #149)
DIF: 1
b
TOPIC: Collusion
MI_5e10 Ch 10 #167 (MC #167)
DIF: 3
>
67.
68.
69.
70.
71.
>
c
TOPIC: The Kinked Demand Curve
MI_5e10 Ch 10 #196 (MC #196) DIF: 3
>
b
TOPIC: The Kinked Demand Curve
MI_5e10 Ch 10 #203 (MC #203) DIF: 5
>
a
TOPIC: The Kinked Demand Curve
MI_5e10 Ch 10 #206 (MC #206) DIF: 1
>
d
TOPIC: Comparison of Oligopoly and Perfect Competition
MI_5e10 Ch 10 #219 (MC #219) DIF: 1
>
c
TOPIC: Additional Questions
MI_5e10 Ch 10 #222 (MC #222)
DIF: 1