mat 540 quiz 4
· Question 1
2 out of 2 points
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
Which of the following activities undertaken by a competitive firm can improve its public relations? Answer |
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· Question 3
2 out of 2 points
Which of the following is a reason behind Wal-Mart’s success? Answer |
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· Question 4
2 out of 2 points
If two small perfectly competitive firms merge, the merged firm will be: Answer |
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· Question 5
2 out of 2 points
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.) Answer |
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· Question 6
2 out of 2 points
Temporary discounts offered to customers by competitive retailers usually reflect: Answer |
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· Question 7
2 out of 2 points
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? Answer |
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· Question 8
2 out of 2 points
Refer to Figure 8-6. Determine the profit earned by the perfume
monopolist if it chooses to hire a retailer for selling its product. Answer |
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· Question 9
2 out of 2 points
Which of the following contracts contain vertical restrictions that limit the transacting parties’ choices but create economic value? Answer |
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· Question 10
0 out of 2 points
In a market characterized by many sellers, if an outsider devises a way to reduce transaction costs it will: Answer |
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· Question 11
2 out of 2 points
Which of the following exemplifies an intangible durable strategy used by firms to prevent competition? Answer |
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· Question 12
2 out of 2 points
In order to be successful as an innovator, a firm may require: Answer |
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· Question 13
2 out of 2 points
A firm’s resource at a given point in time can be defined as: Answer |
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· Question 14
2 out of 2 points
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? Answer |
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· Question 15
Under which of the following situations would a seller prefer to incur the cost of improving the product quality? Answer |
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Rating:
5/
Solution: MAT 540 - quiz 4