
Quiz 7
Authored by Chelsea Lyons
Other
University

AI Actions
Add similar questions
Adjust reading levels
Convert to real-world scenario
Translate activity
More...
Content View
Student View
8 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If a firm converts a previously competitive industry into a monopoly without any changes in the cost curves, it will:
reduce market-level output and raise price to generate more profit.
keep market-level output the same but increase price to generate more profit.
increase market-level output and price to generate more profit.
reduce price and increase market-level output to keep potential competitors from entering the industry.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The total quantities of a good that people are willing and able to buy at alternative prices defines:
marginal revenue.
market demand.
market supply.
market equilibrium.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Market power exists if a firm can alter:
A) market demand.
B) market supply.
C) market equilibrium.
D) market price.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If the entire output of a market is produced by a single seller, the firm: is a monopoly, faces a perfectly vertical demand curve, is an oligopolist, is competitive.
is a monopoly
faces a perfectly vertical demand curve
is an oligopolist
is competitive
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Total profit can be calculated as:
average total cost multiplied by price
total revenue divided by the quantity sold
the difference between price and average total cost multiplied by the quantity sold
price and average total cost added together and then multiplied by the quantity sold
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The change in total revenue that results from a one-unit increase in quantity sold is
total revenue.
marginal revenue.
marginal cost.
marginal profit.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A patent
requires a firm to share its innovations with others.
is an illegal method to protect an innovative idea.
is a government grant of exclusive ownership of an innovation.
protects a perfectly competitive firm from competition.
Access all questions and much more by creating a free account
Create resources
Host any resource
Get auto-graded reports

Continue with Google

Continue with Email

Continue with Classlink

Continue with Clever
or continue with

Microsoft
%20(1).png)
Apple
Others
Already have an account?
Similar Resources on Wayground
10 questions
Lecture 1&2 ACC1014
Quiz
•
University
12 questions
IS - DAS - SOCASIS - Sem 4
Quiz
•
University
10 questions
Interest Rates in India
Quiz
•
University
10 questions
Menopo panjenengan mangertos babagan LPS?
Quiz
•
University
10 questions
QUIZ DE CONOCIMIENTO BRIGADISTAS
Quiz
•
University - Professi...
13 questions
MBA-MIS
Quiz
•
University
10 questions
SHINE
Quiz
•
University
10 questions
Pretes FTS Liquid & Semisolid
Quiz
•
University
Popular Resources on Wayground
15 questions
Fractions on a Number Line
Quiz
•
3rd Grade
20 questions
Equivalent Fractions
Quiz
•
3rd Grade
25 questions
Multiplication Facts
Quiz
•
5th Grade
54 questions
Analyzing Line Graphs & Tables
Quiz
•
4th Grade
22 questions
fractions
Quiz
•
3rd Grade
20 questions
Main Idea and Details
Quiz
•
5th Grade
20 questions
Context Clues
Quiz
•
6th Grade
15 questions
Equivalent Fractions
Quiz
•
4th Grade
Discover more resources for Other
7 questions
How James Brown Invented Funk
Interactive video
•
10th Grade - University
5 questions
Helping Build the Internet: Valerie Thomas | Great Minds
Interactive video
•
11th Grade - University
12 questions
IREAD Week 4 - Review
Quiz
•
3rd Grade - University
23 questions
Subject Verb Agreement
Quiz
•
9th Grade - University
7 questions
Renewable and Nonrenewable Resources
Interactive video
•
4th Grade - University
19 questions
Review2-TEACHER
Quiz
•
University
15 questions
Pre2_STUDENT
Quiz
•
University
20 questions
Ch. 7 Quadrilateral Quiz Review
Quiz
•
KG - University