Crowdly

Add to Chrome

Universities
moodle.uleth.ca
ECON-1010-D1/D2-Introduction to Microeconomics

ECON-1010-D1/D2-Introduction to Microeconomics

Looking for ECON-1010-D1/D2-Introduction to Microeconomics test answers and solutions? Browse our comprehensive collection of verified answers for ECON-1010-D1/D2-Introduction to Microeconomics at moodle.uleth.ca.

Get instant access to accurate answers and detailed explanations for your course questions. Our community-driven platform helps students succeed!

One factor that distinguishes a monopoly from monopolistic competition is that

barriers to exit exist in monopolistic competition.

firms are price-takers in monopolistic competition.

firms in monopolistic competition practice collusion.

close substitutes are available in monopolistic competition.

no barriers to entry exist in a monopoly.

View this question

If a firm spends $600 on advertising, its

AFC and AVC curves shift upward.

ATC and MC curves shift upward.

ATC curve shifts upward and its MC curve shifts downward.

MC curve shifts upward and its ATC curve does not shift.

ATC curve shifts upward and its MC curve does not shift.

View this question

Monopolistic competition might be efficient if

the loss that arises because the quantity produced is less than the efficient quantity is offset by the gain that arises from having a greater degree of product variety.

firms left the industry.

firms invested in technology that decreased the marginal cost of production.

firms made more use of brand names.

more firms entered the industry.

View this question

Monopolistically competitive firms engaging in advertising will definitely achieve which of the following?

an increase in average total cost

Both B and C are correct.

an increase in demand

A, B, and C are correct.

an increase in total cost

View this question

When firms in monopolistic competition incur an economic loss,

firms exit the industry, and demand increases for the products of the firms that remain.

firms enter the industry, and demand increases for the firms that were originally in the industry.

firms enter the industry and produce better products.

the industry will eventually disappear.

firms exit the industry, and demand decreases for the firms that remain in the industry.

View this question

Which one of the following statements describes a market that is monopolistically competitive?

There are significant barriers to entry.

There is a small number of large firms.

The product produced by one firm has no close substitutes.

Many firms compete by making similar but slightly different products.

The products produced by the firms are identical.

View this question

The four-firm concentration ratio tells us the percentage of ________ for the four largest firms in an industry.

physical output

economic profit

the value of sales

accounting profit

View this question

is the difference between price and average total cost.

exists in perfect competition.

does not exist in monopolistic competition.

does not exist in monopoly.

exists in both monopoly and monopolistic competition.

View this question

When the Herfindahl-Hirschman Index (HHI) is greater than 2,500,

the market is moderately competitive.

there are many producers in the market.

a monopoly exists.

the market is uncompetitive.

the market is very competitive.

View this question

In monopolistic competition, firms can make an economic profit in

the short run but not in the long run.

always in the short run and sometimes but not frequently in the long run.

the short run and in the long run.

the long run but not in the short run.

neither the short run nor the long run.

View this question

Previous
1
30
31
32
179
Next

Want instant access to all verified answers on moodle.uleth.ca?

Get Unlimited Answers To Exam Questions - Install Crowdly Extension Now!

Add to Chrome

Telegram Instagram TikTok Question Bank

Terms of Use Contact Us

Add to Chrome

Add to Chrome