Essay about Ap Tiny Economics Notes

A. P. Economics - Test #6 Review Identity: __________________________ Day: _____________ ___ 1 . A monopolistically competitive firm includes a downward-sloping demand curve due to the product, mainly because: A) there exist no obstacles to entry or get out of in the long run. B) there are many vendors in the industry. C) the firm sells a product distinct via products sold by competing firms. D) the price can be greater than the marginal income. ___ 2 . Which with the following is most probably to be discovered when firms engage primarily in non-price competition? A) actively stimulating the sale of generic, rather than brand-name, items B) marketing and item differentiation C) discounts offered through discount coupons D) low interest rates for financing the purchase of bigticket items ___ 3. A monopolistically competitive company is with the short run, is functioning at the maximum level of end result, and is making negative monetary profits. Which of the following must be true? A) ATC > S > MISTER = MC B) ATC = G > MISTER = MC C) ATC > P = MISTER = MC D) ATC > S > MR > MC ___ some. Collusive contracts are typically hard for concentration to maintain because each company can maximize profits by: A) generating more end result than the variety that boosts joint affiliation profits. B) producing significantly less output than the quantity that maximizes joint cartel earnings. C) raising the price over a price that maximizes joint cartel profits. D) engaging in less advertising than the standard of advertising that maximizes joint cartel revenue. ___ your five. Which of the following elements increases the chance that oligopolists collude? A) There are a many firms in the industry. B) A firm and its opponents are currently functioning at maximum productive potential. C) A single firm provides a significant cost advantage more than its opponents. D) A good and its competitors are currently functioning at maximum productive capacity and a single firm provides a significant cost advantage over its competitors. ___ six. Gary's Gas and Frank's Fuel are the only two...



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