BUS 475 Capstone Final Exam Part 1 (100% Correct Answers)
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2. eBay.com is a vast auction site that is similar to a competitive market in<br />
some ways but differs from it in others. Which of the following describes how<br />
eBay resembles a competitive market?<br />
a) On eBay the large sellers dominate the market.<br />
b) Sellers sometimes do not describe the products accurately on eBay.<br />
c) There is a great variety of different products sold on eBay.<br />
d) It is easy to enter and easy to leave eBay.<br />
<strong>Final</strong> <strong>Exam</strong> <strong>Answers</strong> just a click away <strong>BUS</strong> <strong>475</strong> <strong>Capstone</strong> <strong>Final</strong> <strong>Exam</strong>ination<br />
<strong>Part</strong> 1 (<strong>100%</strong> Accurate)<br />
3. From the point of view of consumer surplus and producer surplus, what<br />
problem was created when Thailand subsidized the cost of energy to<br />
consumers to help alleviate the burden of higher energy costs?<br />
a) It encouraged the consumption of too much fuel at the expense of other<br />
goods.<br />
b) It has no effect; consumers gained consumer surplus, but taxpayers lost<br />
the same amount because they had to finance the subsidy.<br />
c) It hurt the poor and benefitted the rich.<br />
d) It led to less fuel being used than the amount that maximizes consumer<br />
surplus.
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