C13 Microeconomics Online Exams 1-8 Answers (Ashworth College)

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B. shift to the right C. remain the same D. none of the above Question 2 of 402.5/ 2.5 Points When a second firm enters a monopolist's market, the monopolist's marginal revenue curve will __________ . A. shift to the left as its initial demand curve shifts to the left B. shift to the right as its initial demand curve shifts to the right C. remain the same D. none of the above Question 3 of 402.5/ 2.5 Points When there are just a few firms in an industry, the industry structure is most likely to be __________ . A. a perfectly competitive industry B. an oligopoly market C. a monopoly market D. a natural monopoly market Question 4 of 400.0/ 2.5 Points When a few firms sell similar products in a market, the market structure is most likely to be __________ .
A. a perfectly competitive market B. a monopoly C. a monopolistically competitive market D. an oligopoly Question 5 of 402.5/ 2.5 Points What is the characteristic of a perfectly competitive firm that causes it to be a price taker? A. many buyers and sellers B. homogeneous product C. free entry and exit D. A and B are correct. Question 6 of 402.5/ 2.5 Points Price discrimination always benefits __________ . A. the firm and may benefit or harm the consumer B. the consumer and may benefit or harm the firm C. consumers and firms D. consumers only Question 7 of 400.0/ 2.5 Points When a second firm enters a monopolist's market __________ . A. market price will rise
Page 1 and 2: C13 Microeconomics Online Exams 1-8
Page 3 and 4: C. the cost of bait, any other mone
Page 5 and 6: A. allowing the government and othe
Page 7 and 8: C. The answer depends on how much y
Page 9 and 10: D. 20 Question 2 of 205.0/ 5.0 Poin
Page 11 and 12: C. consumer income D. the cost of p
Page 13 and 14: Question 13 of 5.0/ 5.0 Points 20 T
Page 15 and 16: A. consumer income rises B. the pri
Page 17 and 18: C. $55,000 D. $100,000 Question 4 o
Page 19 and 20: B. maximum amount the consumer woul
Page 21 and 22: If the government imposes a maximum
Page 23 and 24: B. a monetary payment from the gove
Page 25 and 26: A. increase and output will decreas
Page 27 and 28: D. encourage driving to generate re
Page 29 and 30: A. are designed to encourage more p
Page 31 and 32: C. Fixed costs are always the large
Page 33 and 34: A. the different combinations of tw
Page 35 and 36: C. the foregone interest and the co
Page 37: The equimarginal rule __________ .
Page 41 and 42: A. demand for butter increased caus
Page 43 and 44: C. firms act strategically D. all o
Page 45 and 46: A. change in labor necessary to pro
Page 47 and 48: D. reduce the wealth of the poorest
Page 49 and 50: A. an increase in demand for highly
Page 51 and 52: C. individual labor supply D. marke
Page 53 and 54: A. autarky B. absolute advantage C.
Page 55 and 56: A. increase imports and raise price
Page 57 and 58: Suppose there are only two nations,
Page 59: C. produced by a nation before trad

C13 Microeconomics Online Exams 1-8 Answers (Ashworth College)

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