Home / Questions / Suppose we find that the cross elasticities between two goods are relatively high, and
Suppose we find that the cross elasticities between two goods are relatively high, and
their cross elasticities with goods outside the market are zero. From this we can conclude
that these two goods
a.are produced by monopolies
b.have relatively high prices
c.are unrelated
d.have inelastic demand curves
e.belong to the same market
102. The cross elasticity between any two goods that determines whether or not they are in the
same market is
a.0
b.1
c.3
d.4
e.10
103. The most important characteristic that differentiates one market structure from another is
the
a.time it takes for new firms to enter
b.amount of short-run economic profit
c.degree to which goods complement each other
d.number of producers selling in the market
e.barriers to entry
104. The market structure in which there is only one producer is called
a.monopoly
b.oligopoly
c.monopolistic competition
d.perfect competition
e.duopoly
105. Market structures are defined by all of the following except the
a.number of firms
b.level of prices
c.ease with which new firms can enter
d.presence of substitute goods
e.existence of barriers to entry
106. A unique characteristic of oligopolies is their
a.differentiated products
b.profit-maximizing behavior
c.advertising campaigns
d.ability to overcome barriers to entry
e.mutual interdependence
107. A firm employs 15,000 workers and has annual revenues of over $750 million. Knowing
this, we also know that the firm is in what type of market structure?
a.monopoly
b.oligopoly
c.monopolistic competition
d.perfect competition
e.impossible to tell what market structure the firm is in
108. The monopolist’s demand curve is identical to
a.the monopolistic competitor’s demand curve
b.the industry demand curve
c.a horizontal line that represents a constant price across the production range
d.mutual interdependence
e.a collection of firms producing the same good
109. Natural monopolies have all of the following characteristics except
a.relatively high fixed cost
b.relatively low average variable cost
c.low levels of production
d.difficulty for new firms to enter
e.only one firm can produce profitably
110. Think about cost structures associated with each of the following and decide which is
most likely to be a natural monopoly.
a.jewelry manufacturer
b.tax-preparation firm
c.movie theater
d.city bus company
e.dry cleaner
Dec 09 2019 Read more Less More
a. What is the debt service ratio (DSR) for each country? b. Based only on this ratio, to which country should lenders charge a higher risk premium? c. What are the...
Nov 23 2019Jason Greg is a recent retiree who is interested in investing some of his savings in corporate bonds. Listed below are the bonds he is considering adding to his portfolio...
Dec 04 2019When should you use an Agile method, and when should you use an engineering-based method for developing a system?
Jun 05 2018Exercise 11-16 Book value per share LO A4 The equity section of Cyril Corporation's balance sheet shows the following: Preferred stock-58 cumulative, $25 par value...
Apr 04 2020Shaylea, age 22, just started working full-time and plans to deposit $5,000 annually into an IRA earning 8 percent interest compounded annually. How much would she have i...
Mar 30 2020The store manager of a local independent grocery store thought customers might stay in the store longer if slow, easy-to-listen-to music were played over the store’s int...
Aug 08 2020What are some possible solutions that would be acceptable to both parties?
Nov 26 2019Transmission, Recent outbreaks Risk Factors & risk groups Burden of Disease Global strategies (Intervention) for Prevention and control Discussion of National Health ...
Mar 21 2020For September, Murphy Company has manufacturing costs in BWIP equal to $100,000. During September, the manufacturing costs incurred were $550,000. Using the weighted aver...
Sep 04 2020Discuss in detail the safety classification, global environmental properties and physical properties of refrigerants. Based on the above factors, explain the selection cr...
Aug 19 2020
Welcome to MyCourseHelp Services, World's leading Academic solutions provider with Millions of Happy Students.
