4176343
Beschreibung
Quiz von 2016: Daniel Mor, aktualisiert more than 1 year ago
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Erstellt von 2016: Daniel Mor
vor fast 9 Jahre
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Frage 1
Frage
If the price for Good A is 4$ and 9000 units are demanded, if PED is -1.5, and price changes to 6$, what is the change in quantity demanded?
Antworten
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6750
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2250
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6650
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-2250
Frage 2
Frage
If the income elasticity of demand for a product is -1.2 a firm that produces that product would benefit from a decrease in:
Antworten
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The size of the middle class.
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The size of the lower class.
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The size of government staff.
Frage 3
Frage
If a firm wants to maximise revenue they should produce to the point in which:
Antworten
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Marginal Costs=Average Total Costs
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Marginal Revenue=0
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Marginal Utility = 0
Frage 4
Frage
In a market with perfect competition:
Antworten
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Demand for firms is downward sloping.
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Demand for the industry is downward sloping.
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Demand for the firm is perpendicular to quantity demanded.
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Demand for the firm equals total revenue.
Frage 5
Frage
In a market economy, the price mechanism:
Antworten
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Helps buyers come in contact with sellers and products.
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Helps buyers communicate with sellers.
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Helps sellers adjust to inflation.
Frage 6
Frage
PED's are useful for firms because:
Antworten
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They help firms make decisions about employment of factors.
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They inform firms about revenue.
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They are irrelevant to firms.
Frage 7
Frage
PED's are least relevant to firms in which of the following market structures:
Antworten
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Monopoly
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Perfect Competition
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Oligopolies
Frage 8
Frage
If a teacher leaves a teaching post with a $50,000 anual salary and opens a doughnut shop for $5,000 that will make $145,000 a year the teacher has made:
Antworten
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$140,000 Economic Profit
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$95,000 Normal Profit
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$90,000 Economic Profit
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An economic profit greater than accounting profit.
Frage 9
Frage
A firm will leave its industry and change it for another when:
Antworten
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It can't cover its ATC.
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It can't afford it MC.
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It's profit does not surpass it's implicit costs.
Frage 10
Frage
A company with a lot of latent demand might be:
Antworten
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Pepsi
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Apple
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Lamborghini
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Twinnings
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