Question
Offered Price $20.00

mat 540 quiz 4

Question # 00006837
Subject: General Questions
Due on: 01/31/2014
Posted On: 01/18/2014 10:35 PM

Rating:
4.1/5
Expert tutors with experiences and qualities
Posted By
Best Tutors for school students, college students
Questions:
10156
Tutorials:
10564
Feedback Score:

Purchase it
Report this Question as Inappropriate
Question

· .gif" alt="https://blackboard.strayer.edu/images/ci/icons/generic_updown.gif">Question 1

2 out of 2 points

.gif" alt="Correct">

Which of the following industries can create barriers to the entry of new firms due to size and specificity?

Answer

· Question 2

2 out of 2 points

.gif" alt="Correct">

Which of the following activities undertaken by a competitive firm can improve its public relations?

Answer

· .gif" alt="https://blackboard.strayer.edu/images/ci/icons/generic_updown.gif">Question 3

2 out of 2 points

.gif" alt="Correct">

Which of the following is a reason behind Wal-Mart’s success?

Answer

· .gif" alt="https://blackboard.strayer.edu/images/ci/icons/generic_updown.gif">Question 4

2 out of 2 points

.gif" alt="Correct">

If two small perfectly competitive firms merge, the merged firm will be:

Answer

·

· .gif" alt="https://blackboard.strayer.edu/images/ci/icons/generic_updown.gif">Question 5

2 out of 2 points

.gif" alt="Correct">

Refer to Figure 8-1. If the firm purchases a new machinery which produces fewer defective units of output using the same variable inputs as before, which of the following changes will be observed? (Assume that consumers suffer losses from defective units that they cannot otherwise recover.)

The figure given below represents a firm in a market characterized by many buyers and one seller. MC represents the initial marginal cost, MR the initial marginal revenue, and D the initial demand curve of the firm in equilibrium. Further, MC', D', and MR' represents the revised marginal cost, demand, and marginal revenue respectively after the firm adopts the strategy discussed below.
Figure 8-1
.gif">

Answer

· .gif" alt="https://blackboard.strayer.edu/images/ci/icons/generic_updown.gif">Question 6

2 out of 2 points

.gif" alt="Correct">

Temporary discounts offered to customers by competitive retailers usually reflect:

Answer

· .gif" alt="https://blackboard.strayer.edu/images/ci/icons/generic_updown.gif">Question 7

2 out of 2 points

.gif" alt="Correct">

Refer to Figure 8-4. If a preexisting firm adopts a new cost effective technology (which reduces production costs). Which of the following changes will be observed?

In the figure given below, Panel A represents preexisting firms which are in long run equilibrium at price P0and output q0. MC and AC represents the marginal cost and the average cost of the preexisting firms. Panel B represents a market where every seller has the smallest ability to affect prices. The market is in equilibrium at price P0and output Q
shown by the intersection of the long-run supply curve (LRS) and market demand (D).
Figure 8-4
.gif">

Answer

· .gif" alt="https://blackboard.strayer.edu/images/ci/icons/generic_updown.gif">Question 8

2 out of 2 points

.gif" alt="Correct">

Refer to Figure 8-6. Determine the profit earned by the perfume monopolist if it chooses to hire a retailer for selling its product.

The figure given below represents a monopoly firm producing perfume with downward sloping demand and marginal revenue (MR) curves. The products of this firm are sold in the competitive market by a retailer. Among the horizontal lines in the figure:
A - represents the marginal cost of per unit perfume production
B - represents the marginal cost of an independent perfume retailer
C - represents the sum of A and B
D - represents the marginal cost of the perfume monopolist for retailing its own output
E - represents the sum of A and D.
Figure 8-6
.gif">

Answer

· .gif" alt="https://blackboard.strayer.edu/images/ci/icons/generic_updown.gif">Question 9

2 out of 2 points

.gif" alt="Correct">

Which of the following contracts contain vertical restrictions that limit the transacting parties’ choices but create economic value?

Answer

· .gif" alt="https://blackboard.strayer.edu/images/ci/icons/generic_updown.gif">Question 10

0 out of 2 points

.gif" alt="Incorrect">

In a market characterized by many sellers, if an outsider devises a way to reduce transaction costs it will:

Answer

· .gif" alt="https://blackboard.strayer.edu/images/ci/icons/generic_updown.gif">Question 11

2 out of 2 points

.gif" alt="Correct">

Which of the following exemplifies an intangible durable strategy used by firms to prevent competition?

Answer

· .gif" alt="https://blackboard.strayer.edu/images/ci/icons/generic_updown.gif">Question 12

2 out of 2 points

.gif" alt="Correct">

In order to be successful as an innovator, a firm may require:

Answer

· .gif" alt="https://blackboard.strayer.edu/images/ci/icons/generic_updown.gif">Question 13

2 out of 2 points

.gif" alt="Correct">

A firm’s resource at a given point in time can be defined as:

Answer

· .gif" alt="https://blackboard.strayer.edu/images/ci/icons/generic_updown.gif">Question 14

2 out of 2 points

.gif" alt="Correct">

Refer to Figure 8-3. Suppose the seller incurs an additional cost of $1 per unit of output to reduce the transaction costs of the buyers to zero. How will the profit earned by the seller change?

The figure given below represents a firm in a market characterized by many buyers and one seller. MC is the initial marginal cost of the seller. MC' denotes the marginal cost inclusive of the $1 transaction cost. On the other hand, buyers incur a transaction cost worth $2 represented by the vertical distance between D and D'. MR and MR' represent the marginal revenue curve corresponding to the demand curves D and D' respectively.
Figure 8-3
.gif">

Answer

· .gif" alt="https://blackboard.strayer.edu/images/ci/icons/generic_updown.gif">Question 15

.gif" alt="Correct">

Under which of the following situations would a seller prefer to incur the cost of improving the product quality?

Answer

Tutorials for this Question
Available for
$20.00

MAT 540 - quiz 4

Tutorial # 00006551
Posted On: 01/18/2014 10:36 PM
Posted By:
Best Tutors for school students, college students spqr
Expert tutors with experiences and qualities
Questions:
10156
Tutorials:
10564
Feedback Score:
Report this Tutorial as Inappropriate
Tutorial Preview …sloping xxxxxx and xxxxxxxx revenue (MR) xxxxxx The products xx this xxxx xxx sold xx the competitive xxxxxx by a xxxxxxxx Among xxx xxxxxxxxxx lines xx the figure: x - represents xxx marginal xxxx xx per xxxx perfume production x - represents xxx marginal xxxx xx an xxxxxxxxxxx perfume retailer x - represents xxx sum xx x and x D - xxxxxxxxxx the marginal xxxx of xxx xxxxxxx monopolist xxx retailing its xxx output E x represents xxx xxx of x and D xxxxxx 8-6 Answer xx Question x x out xx 2 points xxxxx of the xxxxxxxxx contracts xxxxxxx xxxxxxxx restrictions xxxx limit the xxxxxxxxxxx parties’ choices xxx create xxxxxxxx xxxxxx Answer xx Question 10 x out of x points xx x market xxxxxxxxxxxxx by many xxxxxxxx if an xxxxxxxx devises x xxx to xxxxxx transaction costs xx will: Answer xx Question xx x out xx…
Attachments
Quiz_4_Chapter_8.docx (36.18 KB)
Preview: marginal xxxxxxx (MR) xxxxxx The products xx this firm xxx sold xx xxx competitive xxxxxx by a xxxxxxxx Among the xxxxxxxxxx lines xx xxx figure:A x represents the xxxxxxxx cost of xxx unit xxxxxxx xxxxxxxxxxx - xxxxxxxxxx the marginal xxxx of an xxxxxxxxxxx perfume xxxxxxxxx x represents xxx sum of x and BD x represents xxx xxxxxxxx cost xx the perfume xxxxxxxxxx for retailing xxx own xxxxxxx x represents xxx sum of x and D xxxxxx 8-6AnswerSelected xxxxxxxxx xxxxxxxx Answer:$5 xxxxxxxxx 9 2 xxx of 2 xxxxxxxxxxx of xxx xxxxxxxxx contracts xxxxxxx vertical restrictions xxxx limit the xxxxxxxxxxx parties’ xxxxxxx xxx create xxxxxxxx value?AnswerSelected Answer:A xxxxxxxxx contract specifying xxxxxxxxx territory xx xxxxxxxxx Correct xxxxxxxx franchise contract xxxxxxxxxx exclusive territory xx operation xxxxxxxx xx 0 xxx of 2 xxxxxxxx a market xxxxxxxxxxxxx by xxxx xxxxxxxx if xx outsider devises x way to xxxxxx transaction xxxxx xx will:AnswerSelected xxxxxxxxxxxxxx the buyers xxx cause the xxxxxxx to xxxx xxxxxxx Answer:benefit xxxx buyers and xxxxxxx Question 11 x out xx x pointsWhich xx the following xxxxxxxxxxx an intangible xxxxxxx strategy xxxx xx firms xx prevent competition?AnswerSelected xxxxxxxxxxxx brand name.....
Purchase this Tutorial @ $20.00 *
* - Additional Paypal / Transaction Handling Fee (3.9% of Tutorial price + $0.30) applicable
Loading...