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2013-11-05 00:17:37
Eco Test

Eco test 3 questions
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  1. which market model has the least number of firms
    Pure monolopy
  2. There will besome control overprice within narrow limits in which model
    monopostlic competition.
  3. mutual interdependence would tend to limit control of price in which market model
  4. under which markup model of the condition  of entry into the market easiest
    pure competition
  5. which characteristic would best be associated with pure competition
    Price taker
  6. which is a feature of a purely competitive market
    products are standard or homogeneous
  7. which is true under conditions of pure competitions
    no single firm can influence the market price by changing its output
  8. price is constant or given to a individual firm selling a purely competitive market because
    each seller supplies negligible fraction of total supply
  9. A purely competitive firm does not try to sell more of its product by lowering its price because
    can  sell all at once at marketprice
  10. in pure competition demand for product for single firm is elastic because
    many other firms produce same product
  11. Sam owns firm that produces tomatoes in purely competitive market, demand curve is
  12. pure competition marginal revenue is
    equal to product price
  13. profit maximizing firm in short run  will expand output as long as
    marginal revenue is greater than marginal cost
  14. which is true for a purely competitive firm in short run  equalibrium
    firms margina lrevenue is equal to marginal costs
  15. a purely competitive firms output is currently such as marginal costs is 4 dollars , marginal revenue is 5 firm should
    leave price unchanged and sell more
  16. TF competitive firms a intensive advertising
  17. TF demand curves for firms of purely competitive industry are perfectly elastic
  18. TF if purely competitive firm is producing output greater than profit maximizing output, then marginal benefit is greater than marginal costs
  19. TF in short run equilibrium, competitive firm cannot earn economic profits
  20. TF when competitive firm is in long run equilibrium accounting profits are greater than zero
  21. which is most characteristic of pure monopoly
    the firm produces a good or service to which there are no close substitutes
  22. one feature of a pure monopoly is that monopolists is
    a price maker
  23. which phrase would be most characteristic of a pure monolopy
    Single seller
  24. under condition of pure monopoly
    entry is blocked
  25. classic example of private unregulated monopoly is
  26. TF Patents and licences are barriers to entry
  27. TF with marginal  costs decreased monopolists will usually lower price and increase level of output
  28. TF purely competitive firm is price maker but monopolists is price taker
  29. TF the supply curve for pure monopoly is up sloping
  30. TF in monopoly, price is greater than marginal costs
  31. which is a characteristic of a monopolistic competition
    relatively easy entry
  32. a major characteristic of a monopolistic competition is
    relatively large number of fimrs selling product
  33. monopoly competitively is like a purely competitive industry in that
    neither industry has significant outer entry
  34. which assumption is part of a model of a monopolistic competition
    no collusion among firms
  35. monopolistic competition is characterized by firms
    producing differentiated products
  36. which characteristic of monopolistic competition
    relatively small market share for each firm
  37. in which industry would monopolistic competition be found
  38. a feature of monopolistic competition is
    non price competition
  39. which market model is characterized by many firms differentiated products relatively easy entry
  40. which set best describes basic features monopolistic competitions
    easy entry differentiated products
  41. TF monopolistic competitive firms exist due to high barrios at entry
  42. monopolistic competitors have some control over price of their products
  43. Brand names and packaging are forms of product differentiation in monopolistic competition
  44. B/C monopolistic competitive firms do not earn long run economic profit, they do not have any degree of monopolistic power
  45. monopolistic firms must produce where there is a optimal allocation of resources because