4505277
Beschreibung
Quiz von anjalisingh02, aktualisiert more than 1 year ago
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Erstellt von anjalisingh02
vor fast 9 Jahre
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Frage 1
Frage
A merger between 2 firms, within the same industry, operating at the same stage of production.
What type of merger is this?
Antworten
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Vertical
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Horizontal
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Conglomerate
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Forward Vertical
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Backward Vertical
Frage 2
Frage
A merger between 2 firms in entirely unrelated industries.
What type of merger is this?
Antworten
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Vertical
-
Horizontal
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Conglomerate
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Forward Vertical
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Backward Vertical
Frage 3
Frage
A merger between 2 firms, within the same industry, operating at different stages of production.
What type of merger is this?
Antworten
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Vertical
-
Horizontal
-
Conglomerate
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Forward Vertical
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Backward Vertical
Frage 4
Frage
Why do firms remain small?
Antworten
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Gain expertise
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Barriers to Entry/Exit
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Niche-Market Businesses
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Lack of resources
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Lack of motivation
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Benefit from greater profits
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Increase sales
Frage 5
Frage
Why do firms grow?
Antworten
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Increase market share
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Barriers to Entry/Exit
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Gain power
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Benefit from greater profits
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Avoid attention from potential buyers
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Lack of resources
Frage 6
Frage
Productive efficiency occurs...
Antworten
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at the lowest point of the average cost curve
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when the cost of production and the demands of consumers are taken into account to maximise welfare
Frage 7
Frage
How can productive efficiency be shown on a diagram?
Antworten
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P=MC
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MC=AC
Frage 8
Frage
Allocative efficiency occurs...
Antworten
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at the lowest point of the average cost curve
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when the cost of production and the demands of consumers are taken into account to maximise welfare
Frage 9
Frage
How can allocative efficiency be shown on a diagram?
Antworten
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P=MC
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MC=AC
Frage 10
Frage
Profit maximisation occurs where...
Antworten
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AC=AR
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MC=MR
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MR=0
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AR=MR
Frage 11
Frage
Revenue maximisation occurs where...
Antworten
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AC=AR
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MC=MR
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MR=AR
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MR=0
Frage 12
Frage
Sales maximisation occurs where...
Antworten
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MC=MR
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MR=AR
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AC=AR
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MR=0
Frage 13
Frage
Which one best describes Perfect Competition?
Antworten
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High Barriers to Entry/Exit
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Imperfect knowledge
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Few large firms dominate
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Homogenous products
Frage 14
Frage
Which one best describes Monopolistic Competition?
Antworten
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Low concentration ratio
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Homogenous products
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Perfect knowledge
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No barriers to Entry/Exit
Frage 15
Frage
Which one best describes Oligopoly?
Antworten
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Many small firms
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Perfect knowledge
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High barriers to Entry/Exit
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Unique products
Frage 16
Frage
Which one best describes Monopoly?
Antworten
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Low concentration ratio
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Perfect Knowledge
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Unique products
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Low barriers to Entry/Exit
Frage 17
Frage
How do you calculate Average Fixed Costs?
Antworten
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Fixed Costs/Output
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Variable Costs/Output
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Fixed Costs/Price
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Variable Costs/Price
Frage 18
Frage
How do you calculate Average Variable Costs?
Antworten
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Variable Costs/Output
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Variable Costs/Price
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Fixed Costs/Output
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Fixed Costs/Price
Frage 19
Frage
How do you calculate Marginal Costs?
Antworten
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Change in Total Costs/ Change in Quantity
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Change in Quantity/ Change in Total Costs
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Change in Fixed Costs/ Change in Quantity
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Change in Variable Costs/ Change in Quantity
Frage 20
Frage
How do you calculate Total Revenue?
Antworten
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Price x Quantity
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Total Costs x Quantity
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(Price x Quantity)/ Quantity
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Total Revenue/ Quantity
Frage 21
Frage
How do you calculate Average Revenue?
Antworten
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(Price x Quantity)/ Quantity
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Fixed Costs/ Quantity
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Price x Quantity
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Variable Costs x Quantity
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