Microeconomics

Question 1 (5 points) 1. Which of the following may lead to erect integration? a) Technological interdependencies b) Reduced search and bargaining cost c) The hold-up problem d) all of the above Question 2 (5 points) Effective collusion generally is more(prenominal) difficult when a) the number of oligopolistic stiffs involved decreases b) the number of oligopolistic firms involved increases c) when client orders be small, frequent, and received on a regular institution as compared with large orders that are received infrequently at irregular intervals. d) (a) and (c) Question 3 (5 points) A pencil shaper is in a perfectly competitive market. The firm preempt sell as much as it motivations at a price of $1.50 per pencil. At some production levels, its medium variable quantity costs are less than $1.50, just there is non production level where its average total cost is bear on or less than $1.50. What would be your recommendation to the pencil shaper? a) Increase production to decrease fixed costs per unit. b) provide the business immediately. c) Continue production in both the curtly and long runs. d) Continue production in the short run, but exit the business in the long run unless prices are expected to rise or costs to fall.

Question 4 (5 points) A pure monopoly refers to a situation in which: a) the firms profit is maximized at the price and output combination where average cost equals average revenue b) the demand curve is always elastic c) oneness firm is the only producer of a good or service which has no close substitutes d) the demand curve approach the firm is less than the industry demand curve Question 5 (5 points) Cost-benefit analysis is the public sector counterpart to _______________ used in private, profit-oriented firms. a) Cost-effectiveness analysis b) break-even analysis c) economic forecasting techniques d) capital budgeting techniques Question 6 (5 points) Which of the following... If you want to get a full essay, order it on our website: Ordercustompaper.com

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