which answer is correct, find the answer for each question 1-5

Proctoring Enabled: Quiz 3 1 Saved Help Save & Exit Submit What is product differentiation? 23 Multiple Choice 00:37:28 eBook Charging different customers different prices for the same product. O The attempt by a firm to distinguish its product from the competition by charging a different price. O The attempt by a firm to distinguish its product from the competition using non-price methods. O Charging customers different prices for different products. Mc Graw HillEnabled: Quiz 3 i Saved Help Save & Exit Submit If the price of a product increases, which of the following statements regarding the perfectly competitive firm is correct? Multiple Choice O Its average revenue curve will be steeper. O Its average revenue curve will be flatter. O Its marginal revenue curve will be flatter. O Its total revenue curve will be steeper. Enabled: Quiz 3 i Saved Help Save & Exit Submit In what situation should a firm shut down in the short run? Multiple Choice O When its total revenue is less than its total fixed costs at all output levels. O When its total revenue exceeds its total variable costs at all output levels. O When the price is below its lowest average variable cost at all output levels. O When the price is below its lowest average total cost at all output levels. Proctoring Enabled: Quiz 3 1 Saved Help Save & Exit Submit What are barriers to entry? 15 Multiple Choice 01:47:27 Skipped O Toll highways which make transportation costs very high. eBook O Tariffs imposed on imported goods. O Obstacles that make it difficult for new participants to enter an industry. O Quotas imposed on imported goods. Mc Graw Enabled: Quiz 3 i Saved Help Save & Exit Submit Which of the following is an example of a technical barrier to entry? Multiple Choice O Patent. O Economies of scale. O Licensing fee. O Copyright.