chapter 6 tmqt

chapter 6 tmqt

University

35 Qs

quiz-placeholder

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chapter 6 tmqt

chapter 6 tmqt

Assessment

Quiz

Other

University

Practice Problem

Medium

Created by

Phương Bùi

Used 9+ times

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35 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

External economies of scale arise when the cost per unit

rises as the industry grows larger.

falls as the industry grows larger rises as the average firm grows larger.

falls as the average firm grows larger.

remains constant.

None of the above

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Internal economies of scale arise when the cost per unit

rises as the industry grows larger

falls as the industry grows larger

rises as the average firm grows larger.

falls as the average firm grows larger

None of the above.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

External economies of scale

may be associated with a perfectly competitive industry

cannot be associated with a perfectly competitive industry

tends to result in one huge monopoly

tends to result in large profits for each firm.

None of the above.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Internal economies of scale

may be associated with a perfectly competitive industry

cannot be associated with a perfectly competitive industry

are associated only with sophisticated products such as aircraft.

cannot form the basis for international trade

None of the above

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A monopolistic firm

can sell as much as it wants for any price it determines in the market.

cannot determine the price, which is determined by consumer demand

will never sell a product whose demand is inelastic at the quantity sold

cannot sell additional quantity unless it raises the price on each unit.

None of the above

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Monopolistic competition is associated with

cut-throat price competition

product differentiation

explicit consideration at firm level of the feedback effects of other firms' pricing decisions.

high profit margins

None of the above.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The most common market structure is

perfect competition

monopolistic competition

small-group oligopoly

perfectly vertical integration

None of the above

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