In the graph below, what scale of operation represents the long run tendency of the market? c, cost; p.price Marginal Co
Posted: Sun May 29, 2022 7:04 pm
- In The Graph Below What Scale Of Operation Represents The Long Run Tendency Of The Market C Cost P Price Marginal Co 1 (16.73 KiB) Viewed 14 times
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In the graph below, showing a monopolistic competitor with weak product differentiation, what is the market equilibrium price and the market equilibrium quantity in the long run? Cost MC AC Output Q=50 Q=65 p=$9.00 p=$8.00 p=$7.00 p=$3.00
p=$9.00 p=$8.00 p=$7.00 p=$3.00 O a. p $3.00; Q= 50 Ob.p=$7.00: Q65 c. p-$8.00, Q-65 Od.p $9.00, 0-50 Q=50 Q=65 AC Output
The goverment subsidy for creating a COVID vaccine and its free delivery to all citizens in the US is a violation of free market principles. It is a government intervention which is socially desirable, but it does create a price distortion. Among the kinds of price distortions that we identified in class so far, which one best describes the government subsidy for the COVID vaccin? Oa. The subsidy for the COVID vaccine is most similar to proprietary information, because the govemment promises not to release to the general public the details of the process for creating the vaccine Ob. The subsidy for the COVID vaccine extemalizes both a cost and a benefit. Those who receive at do not pay its full cost on their taxes), and some will pay for it (in their taxes) without receiving it. C The subsidy for the COVID vaccine is most similar to a trademark, because the subsidy conveys CDC approval of the vaccine, which is an assurance of quality Od. The subsidy for the COVID vaccine is a barrier to entry, because only those companies that were already close to achieving a vaccine were given the subsidy
In which two competitive market structures is product differentiation the main form of competition? a. Monopolistic Competition (example: Frito-Lay Foods) b. Regional Monopoly (example: PECO) c. Regional Duopoly (example: Verizon and Comcast) d. Oligopoly (example: Pfizer Pharmaceutical)
Which two competitive market structures are typical of Infrastructure industries where distribution costs are very high? a Regional Duopoly (example: Verizon and Comcast b. Regional Monopoly (example: PECO) De Oligopoly (example: Pfizer Pharmaceutical) d. Monopolistic Competition (example: Frito-Lay Foods)
Which three of the following examples of product differentiation is most likely to be weak differentiation, easily imitated so that price competition continues to be practiced by the competitors? a Billboard advertising b. A robotic assembly line customized to a single product line of automobiles A patent that protects the production process for 20 years Dd 24-Hour customer services A logo
The primary cause of the concentration of industries is: O a. Government intervention O b. Unionization O c. Unstable demand O d. High fixed cost
In an industry that is highly concentrated, and where demand is highly inelastic, how does market supy adjust to changes in market demand in the long run? Ⓒa. In a concentrated market, new businesses will enter when there are pure profits, shifting the market supply curve and lowering the price to the breakeven price Ob. In a concentrated market there will always be govemment price controls to guarantee a price equal to the breakeven price Oc. In a concentrated market, existing firms will increase their scale of operation when market demand increases and reduce their scale of operation if demand decreases