Piyasa Yapıları (Market Structures)

A market consists of only three major airlines that dominate all domestic flights. These companies closely monitor each other's ticket prices and generally follow each other in price reductions. What type of market structure is this?

• Perfect competition

• Monopoly

• Oligopoly

• Monopolistic competition

In the short term, a production company is in trouble. What is the specific point at which the company should completely stop production to minimize its losses?

• When Total Revenue equals Total Cost

• When Price falls below Average Variable Cost (AVC)

• When Price equals Average Total Cost (ATC)

• When Marginal Revenue equals Marginal Cost

In a local telecommunications market, there are four competing companies with market shares of 40%, 30%, 20%, and 10%, respectively. What is the Herfindahl-Hirschman Index (HHI) for this market?

• 100

• 1000

• 3000

• 10000

A perfectly competitive firm is in a long-term equilibrium. The accounting profit is positive, but the economic profit is exactly zero. How should the firm interpret this situation?

• A zero economic profit means it cannot pay its workers, so it should exit the market.

• It is earning normal profit, meaning it is earning exactly what it would in its next best alternative.

• It is operating below the shutdown point and should immediately cease operations.

• It has a monopoly advantage that artificially allows it to sustain zero economic profit.

TechGear produces mechanical keyboards. They are currently selling each keyboard for 50 dollars. Their Average Total Cost (ATC) is 60 dollars, and their Average Variable Cost (AVC) is 45 dollars. Which of the following decisions is definitely true for TechGear in the short run?

• The company should continue production.

• The company is making a loss.

• The company is making a profit.

• The company should stop production.

• It should close immediately since the price is below ATC.

• It should continue production in the short run since the price is above AVC, which helps cover some fixed costs.

• It should raise the price to $60 to reach the break-even point.

• It should close immediately since they are operating at a negative economic profit.

Which of the following statements correctly distinguishes the demand curve of a perfectly competitive firm from that of a monopoly?

• A perfectly competitive firm faces a perfectly inelastic demand curve, while a monopoly faces an elastic demand curve.

• Both face an upward sloping demand curve.

• A perfectly competitive firm faces a perfectly elastic horizontal demand curve, while a monopoly faces a downward sloping market demand curve.

• A perfectly competitive firm faces a downward sloping demand curve, while a monopoly faces a perfectly elastic horizontal demand curve.

During an economic recession, the country's Central Bank decides to lower interest rates to encourage borrowing. What type of policy is this?

• Expansionary fiscal policy

• Expansionary monetary policy

• Contractionary fiscal policy

• Contractionary monetary policy

Which economic indicator typically changes before the general economy does and is therefore extremely useful for predicting future economic trends?

• Lagging indicator

• Coincident indicator

• Leading indicator

• Realized indicator

The government is enacting a new infrastructure spending law to combat a recession. However, it takes six months for the funds to reach construction companies and start creating jobs. What type of policy delay does this six-month delay represent?

• Recognition delay

• Action delay

• Impact delay

• Information delay