51. Refrigerator company is an example of O A. Oligopoly O B. Perfect competition O C....
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
51. Refrigerator company is an example of O A. Oligopoly O B. Perfect competition O C. Monopoly O D. Bilateral monopoly 52. If a monopolistically competitive firm's marginal cost curve shifts upward, then its level of output O A. Could increase, decrease, or stay the same but more information is needed O B. Will decrease O C. Will increase O D. Will stay the same 53. Which of the following is a differentiated product? OA. A shirt O B. A hamburger O C. An automobile O D. All of the these 54. How many sellers are present in duopoly? O A. 1 OB. 2 O C.3 O D. 4 55. One difference between oligopoly and monopolistic competition is that A. More firms compete in oligopoly O B. Monopolistic competition has barriers to entry O C. In monopolistic competition, the products are identical O D. Fewer firms compete in oligopoly than in monopolistic competition 56. Firms in monopolistic competition make products that are O A. Perfect complements O B. Perfect substitutes O C. Close but not perfect complements O D. Close but not perfect substitutes 57. A characteristic of monopolistic competition is O A. A low ratio of fixed to variable costs O B. Product differentiation OC. A high capital-output ratio O D. The absence of advertising 58. In a perfectly competitive market, the type of decision a firm has to make is different in the short run than in the long run. Which of the following is an example of a perfectly competitive firm's short-run decision? O A. Whether or not to enter or exit an industry B. What price to charge buyers for the product O C. The profit-maximizing level of output O D. How much to spend on advertising and sales promotion 59. In a trade cycle after Depression phase is a O A. Prosperity phase O B. Revival phase O C. Recession phase D. No phase 60. Reflation is O A. Opposite of inflation O B. Same as deflation O C. A situation of rising prices deliberately undertaken to relieve depression O D. A situation of falling prices deliberately taken to relieve prosperity 51. Refrigerator company is an example of O A. Oligopoly O B. Perfect competition O C. Monopoly O D. Bilateral monopoly 52. If a monopolistically competitive firm's marginal cost curve shifts upward, then its level of output O A. Could increase, decrease, or stay the same but more information is needed O B. Will decrease O C. Will increase O D. Will stay the same 53. Which of the following is a differentiated product? OA. A shirt O B. A hamburger O C. An automobile O D. All of the these 54. How many sellers are present in duopoly? O A. 1 OB. 2 O C.3 O D. 4 55. One difference between oligopoly and monopolistic competition is that A. More firms compete in oligopoly O B. Monopolistic competition has barriers to entry O C. In monopolistic competition, the products are identical O D. Fewer firms compete in oligopoly than in monopolistic competition 56. Firms in monopolistic competition make products that are O A. Perfect complements O B. Perfect substitutes O C. Close but not perfect complements O D. Close but not perfect substitutes 57. A characteristic of monopolistic competition is O A. A low ratio of fixed to variable costs O B. Product differentiation OC. A high capital-output ratio O D. The absence of advertising 58. In a perfectly competitive market, the type of decision a firm has to make is different in the short run than in the long run. Which of the following is an example of a perfectly competitive firm's short-run decision? O A. Whether or not to enter or exit an industry B. What price to charge buyers for the product O C. The profit-maximizing level of output O D. How much to spend on advertising and sales promotion 59. In a trade cycle after Depression phase is a O A. Prosperity phase O B. Revival phase O C. Recession phase D. No phase 60. Reflation is O A. Opposite of inflation O B. Same as deflation O C. A situation of rising prices deliberately undertaken to relieve depression O D. A situation of falling prices deliberately taken to relieve prosperity
Expert Answer:
Answer rating: 100% (QA)
51 Refrigerator company is an example of Answer A Oligopoly Oligopoly is a system in which a handful of companies control the majority of the market eg cars refrigerators 52 If a monopolistically comp... View the full answer
Related Book For
Microeconomics An Intuitive Approach with Calculus
ISBN: 978-0538453257
1st edition
Authors: Thomas Nechyba
Posted Date:
Students also viewed these economics questions
-
The cost of quality training is an example of what type of quality cost? A) External failure costs B) Internal failure costs C) Appraisal or inspection costs D) Prevention costs
-
A state or local sales tax is an example of a: a. Regressive rate structure. b. Progressive rate structure. c. Proportional rate structure. d. Recessive tax structure.
-
The following is an example of a CPA firm's quality control procedure requirement: "Any person being considered for employment by the firm must have completed a basic auditing course and have been...
-
Write a program that takes two integer command-line arguments x and y and prints the Euclidean distance from the point (x, y) to the origin (0, 0).
-
In audit sampling applications, sampling risk is a. A characteristic of statistical sampling applications but not of non-statistical applications. b. The probability that the audit team will fail to...
-
A furnace is constructed in three sections, which include insulated circular (2) and cylindrical (3) sections, as well as an intermediate cylindrical section (1) with imbedded electrical resistance...
-
On February 16, 2005, Joseph and Margaret Buset borrowed $192,000 from Fremont Investment & Loan (the Originator). The loan was secured by a mortgage on a residential condominium. The mortgage named...
-
HORIZONTAL ANALYSIS OF COMPARATIVE FINANCIAL STATEMENTS Amounts from the comparative income statement and balance sheet of Miller Electronics Corporation for the last two years are as follows:...
-
Following are the results from two different simple regression analyses, estimating the costs of the purchasing department using number of purchase orders and number of vendors as potential cost...
-
Consider the novel device for oxidative treatment of wastewater shown in the figure (right column). In this device, O 3 will serve as the oxidant source, which must be carefully dosed into the...
-
What are the main issues that generate conflict between opposition groups and Madero in Trouble in Paradise?
-
BHP Billiton is the world's largest mining firm. BHP expects to produce 2.00 billion pounds of copper next year, with a production cost of $0.95 per pound. a. What will be BHP's operating profit from...
-
Insulin binding to an insulin receptor of a cell stimulates tyrosine kinase activity. However, an uncontrollably high number of insulin-insulin receptor binding causes negative impacts on cellular...
-
In the current year, Emlyn, a self-employed taxpayer, flies from Miami to Hong Kong primarily for business purposes. Emlyn spends three days vacationing and seven days (including two travel days)...
-
from the perspective of an investment analyst, take a position for forecasting the future year ending 12/31/2024 stock price performance for Ford Motor and GM in terms of a recommendation to Buy,...
-
Yumco is a subscription-based meal plate producer and seller. Customers can only buy the meal plates if they subscribe for the weekly plan, which includes 7 dinner plates (i.e., 1 dinner plate for...
-
Consider the following summarised balance-sheet and associated average interest rates of a bank. The bank holds zero-coupon bonds that have a 4-year maturity with a 7% discount rate. Amounts in the...
-
Rewrite Programming Exercise 7.5 using streams. Display the numbers in increasing order. Data from Programming Exercise 7.5 Write a program that reads in 10 numbers and displays the number of...
-
A: Suppose the production process for a firm is homothetic and has decreasing returns to scale. (a) On a graph with labor on the horizontal and capital k on the vertical axis, draw an isoquant...
-
As we have suggested in the chapter, it is often important to know whether workers will work more or less as their wage increases. A. In each of the following cases, can you tell whether a worker...
-
A: Suppose that your wage is $20 per hour and you have up to 60 hours per week that you could work. (a) Now, instead of putting leisure hours on the horizontal axis (as we did in Graph 3.1), put...
-
What accounts for the disparity in NPMO between the statistical 6 and the popular Six Sigma approach?
-
What is the most common use of stratification?
-
What purpose is served by flowcharts?
Study smarter with the SolutionInn App