Microeconomics

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If a monopoly is operating on the demand curve where price elasticity is equal to -3, and MR equals ... Started by sammy	1 Replies 16 Views	Jul 1, 2018 by jordangronback
The fact that a perfectly competitive firm has a perfectly elastic demand curve means A) there is ... Started by KWilfred	1 Replies 14 Views	Jul 1, 2018 by ririgirl15
When discussing rules that governments use to intervene in a market, we can take a ________ approach ... Started by Anajune7	1 Replies 27 Views	Jul 1, 2018 by dominiqueenicolee
Market failures ________ and generate ________. A) compel the government to act; regulations B) ... Started by kellyjaisingh	1 Replies 41 Views	Jul 1, 2018 by laurnthompson
A consumer's utility function is given by: U(x,y) = 10xy Currently, the prices of goods x and y ... Started by ereecah	1 Replies 20 Views	Jul 1, 2018 by carojassy25
In the short run a firm should shut down if it cannot A) make normal profits. B) make economic ... Started by fahad	3 Replies 29 Views	Jul 1, 2018 by aadams68
If the demand shifts, then for a profit maximizing monopolist, A) price will change while ... Started by madam-professor	1 Replies 25 Views	Jul 1, 2018 by onowka
In two-part pricing A) consumers pay a lump-sum for all the goods purchased. B) the consumer ... Started by go.lag	1 Replies 19 Views	Jul 1, 2018 by lkoler
Firms are price makers if they A) have sufficient market power to set their product price. B) ... Started by burchfield96	1 Replies 43 Views	Jul 1, 2018 by Chocorrol77
If the demand for a good is price inelastic and the good price is increased, then the marginal ... Started by tichca	1 Replies 98 Views	Jul 1, 2018 by Missbam101
Implicit collusion, where players do NOT have an explicit agreement A) are strictly prohibited ... Started by fox	1 Replies 46 Views	Jul 1, 2018 by bimper21
The predecessor of TANF was Aid to Families with Dependent Children. a. True b. ... Started by mcmcdaniel	1 Replies 34 Views	Jul 1, 2018 by tennis14576
A Californian student consumes Internet services (I) and books (B). Her preferences are ... Started by Jramos095	1 Replies 26 Views	Jul 1, 2018 by jomama
The argument that society should be in favor of changes that benefit some people without making ... Started by lindiwe	3 Replies 58 Views	Jul 1, 2018 by pikon
If a manager is unsure what the entire profit function looks like, then she can A) decrease ... Started by waynest	1 Replies 16 Views	Jul 1, 2018 by bitingbit
A perfectly competitive firm has total revenue and total cost curves given by: TR = 100Q TC = ... Started by frankwu	1 Replies 42 Views	Jul 1, 2018 by memslove
If a government policy increases benefits to the unemployed without having a detrimental effect on ... Started by storky111	1 Replies 15 Views	Jul 1, 2018 by chreslie
What does it mean to say that a perfectly competitive firm is a price taker? Can't a firm set any ... Started by bucstennis@aim.com	1 Replies 60 Views	Jul 1, 2018 by missalyssa26
A Californian student consumes Internet services (I) and books (B). Her preferences are represented ... Started by big1devin	1 Replies 16 Views	Jul 1, 2018 by sylvia
Long-run economic rent or profit do not exist for fixed factors like land because A) bidding ... Started by lindiwe	1 Replies 18 Views	Jul 1, 2018 by matt
Why would a firm choose to remain in an industry in which it makes an economic profit of zero? ... Started by saliriagwu	1 Replies 37 Views	Jul 1, 2018 by nanny
After employing her last laborer, Rachel notices that her Average Product has decreased. True or ... Started by misspop	3 Replies 20 Views	Jul 1, 2018 by joanwhite
The minimum wage is an example of a government imposed A) price control. B) price ceiling. C) ... Started by bclement10	1 Replies 63 Views	Jul 1, 2018 by tuate
According to Revealed Preferences, if a Consumer chooses a more expensive bundle of goods over a ... Started by magmichele12	1 Replies 55 Views	Jul 1, 2018 by bulacsom
Which of the following is a Pareto improvement? A) A monopolist loses its monopoly when a ... Started by mia	1 Replies 16 Views	Jul 1, 2018 by carlsona147