Two curves that remain parallel as the quantity of output increases are:. Single choice. Total fixed cost and total variable cost. Total cost and total variable cost. Average fixed cost and average variable cost. Average total cost and average fixed cost. Which of the following is necessary for a natural monopoly?. Single choice. economies of scale copy rights government regulations all of the above Price discrimination involves. Single choice. firms selling different products at different prices to different consumers. firms selling the same product at different prices to different consumers. consumers discriminating between different sellers on the basis of the different prices they quote for different products. consumers discriminating between different sellers on the basis of the different prices they quote for the same product. A profit-maximizing firm in a competitive market is currently producing 100 units of output. It has average revenue of $12, average total cost of $8, and fixed costs of $200. Firm's marginal cost is. Single choice. (1 Point) less than 12 12 greater than 12 none of the above
Two curves that remain parallel as the quantity of output increases are:. Single choice. Total fixed cost and total variable cost. Total cost and total variable cost. Average fixed cost and average variable cost. Average total cost and average fixed cost. Which of the following is necessary for a natural monopoly?. Single choice. economies of scale copy rights government regulations all of the above Price discrimination involves. Single choice. firms selling different products at different prices to different consumers. firms selling the same product at different prices to different consumers. consumers discriminating between different sellers on the basis of the different prices they quote for different products. consumers discriminating between different sellers on the basis of the different prices they quote for the same product. A profit-maximizing firm in a competitive market is currently producing 100 units of output. It has average revenue of $12, average total cost of $8, and fixed costs of $200. Firm's marginal cost is. Single choice. (1 Point) less than 12 12 greater than 12 none of the above
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Two curves that remain parallel as the quantity of output increases are:. Single choice.
Total fixed cost and total variable cost.
Total cost and total variable cost.
Average fixed cost and average variable cost .
Which of the following is necessary for a natural monopoly ?. Single choice.
economies of scale
copy rights
government regulations
all of the above
firms selling different products at different prices to different consumers.
firms selling the same product at different prices to different consumers.
consumers discriminating between different sellers on the basis of the different prices they quote for different products.
consumers discriminating between different sellers on the basis of the different prices they quote for the same product.
A profit-maximizing firm in a competitive market is currently producing 100 units of output. It has average revenue of $12, average total cost of $8, and fixed costs of $200. Firm's marginal cost is. Single choice.
(1 Point)
less than 12
12
greater than 12
none of the above
If a perfectly competitive firm sells 100 units of output at a market price of $100 per unit, its marginal revenue per unit is. Single choice.
(1 Point)
$1.
$100.
more than $1, but less than $100.
less than $100.
The demand curve facing a perfectly competitive firm is:. Single choice.
(1 Point)
Downward-sloping and less flat than the market demand curve.
Downward-sloping and more flat than the market demand curve.
Perfectly horizontal.
Perfectly vertical
3636,
Which is a barrier to entry?. Single choice.
(1 Point)
patents
revenue maximization
profit maximization
elastic product demand
3737,
A group of firms that gets together to make price and output decisions is called. Single choice.
(1 Point)
a non-collusive oligopoly.
price leadership.
a cartel.
a concentrated industry
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