
MARKET STRUCTURE 3
Authored by Jamie Thorns
Business, Other
1st - 3rd Grade
Used 9+ times

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15 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Predatory pricing can be defined as......
pricing below AVC to remove competitors within the market
pricing below AVC to deter new entrants to the market
pricing between profit max and normal profit
pricing at normal profit to flood the market with your product
pricing at mr=mc
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Limit pricing can be defined as..........
pricing below AVC to get rid of existing competitors
pricing at normal profit
pricing between profit max and normal profit to deter new entrants
pricing at mr=0
pricing at mc=mr
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Advertising could be described as what type of cost?
variable
semi-variable
marginal
sunk
opportunity
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
nash equilibrium occurs at the outcome where there is......
no tendency to change
tendency to change
maximum joint profits
maximum individual profits
none of the above
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In game theory firms have an incentive to collude so that they can......
maximise normal profits
maximise revenue
maximise profits
maximise joint or combined profits
maximise output
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
tacit collusion involves...........
a formal agreement
a formal handshake
a formal nose rub
no formal or verbal agreement
none of the above
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A dominant monopoly is where.............
one firm controls at least 25% market share
one firm controls at least 40% market share
only 1 supplier in the market
low market concentration
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