ECO 561 Week 3 Knowledge Check.pdf
For more course tutorials visit www.uophelp.com 1. A purely- or perfectly-competitive firm would be characterized by which of the following? 2. For a purely-competitive firm, price must be 3. What will excessive or economic profits induce for a firm in any industry structure? 4. A pure-monopoly firm’s demand curve is also the market demand curve. This kind of firm may successfully engage in price discrimination to increase its total profit if it 5. Oligopolies are characterized by a small number of firms where the top three firms hold the majority of the market. If in an oligopoly market, firm A ia almost twice as big as firm B and firm C then 6. In a monopolistic competiton industry, if one firm appreciably increased its price from the existing equilibrium price, which of the following outcomes would most likely ensue?
For more course tutorials visit
www.uophelp.com
1. A purely- or perfectly-competitive firm would be characterized by which of the following?
2. For a purely-competitive firm, price must be
3. What will excessive or economic profits induce for a firm in any industry structure?
4. A pure-monopoly firm’s demand curve is also the market demand curve. This kind of firm may successfully engage in price discrimination to increase its total profit if it
5. Oligopolies are characterized by a small number of firms where the top three firms hold the majority of the market. If in an oligopoly market, firm A ia almost twice as big as firm B and firm C then
6. In a monopolistic competiton industry, if one firm appreciably increased its price from the existing equilibrium price, which of the following outcomes would most likely ensue?
- No tags were found...
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
<strong>ECO</strong> <strong>561</strong> <strong>Week</strong> 3 <strong>Knowledge</strong> <strong>Check</strong> (Quiz)Click Here to Buy the Tutorialhttp://www.uophelp.com/<strong>ECO</strong>-<strong>561</strong>/product-6537-<strong>ECO</strong>-<strong>561</strong>-Chapter-3-QuizFor more course tutorials visitwww.uophelp.com1. A purely- or perfectly-competitive firm would be characterized by which of thefollowing?2. For a purely-competitive firm, price must be3. What will excessive or economic profits induce for a firm in any industry structure?4. A pure-monopoly firm’s demand curve is also the market demand curve. This kind offirm may successfully engage in price discrimination to increase its total profit if it5. Oligopolies are characterized by a small number of firms where the top three firms holdthe majority of the market. If in an oligopoly market, firm A ia almost twice as big as firm Band firm C then6. In a monopolistic competiton industry, if one firm appreciably increased its price fromthe existing equilibrium price, which of the following outcomes would most likely ensue?7. Which factor charcterizes the competitive relationship between firms in an oligopolymarket structure?8. Unregulated (natural) monopolies maintain their status through a variety of measures.Whether any particular measure can effectively constrain new firms from entering the marketdepends on
Change language