KTCC_Nhoms5_Flashcard

KTCC_Nhoms5_Flashcard

Assessment

Flashcard

Other

University

Hard

Created by

Wayground Content

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10 questions

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1.

FLASHCARD QUESTION

Front

What is the primary goal of price control in a monopoly when setting P = AC?

Back

To ensure the firm covers its costs without earning excess profit

2.

FLASHCARD QUESTION

Front

If a monopoly is forced to set P = MC, what is the likely outcome?

Back

The firm incurs a loss because TR < TC

3.

FLASHCARD QUESTION

Front

Which government intervention involves direct provision of services like electricity or water?

Back

Public production

4.

FLASHCARD QUESTION

Front

Public-private partnerships are primarily used to:

Back

Combine private funding/expertise with public oversight

5.

FLASHCARD QUESTION

Front

What is a key factor that worsens asymmetric information? Options: Low product complexity, Repeat purchases with consistent quality, High information costs for consumers, Government price controls

Back

High information costs for consumers

6.

FLASHCARD QUESTION

Front

Adverse selection occurs when:

Back

A seller knows more about product quality than the buyer

7.

FLASHCARD QUESTION

Front

Moral hazard is best illustrated by: A buyer overpaying for a faulty car, An insured driver parking carelessly due to theft coverage, A monopolist setting P = MC, A government subsidizing a loss-making firm

Back

An insured driver parking carelessly due to theft coverage

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