Sec 16.1 MC Between Monopoly and Perfect Competition

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1、1. AtypicalfirmintheUSeconomywouldbeclassifiedas a. perfectlycompetitive. b. imperfectlycompetitive. c. aduopolist. d. anoligopolist.ANSWER:  bDIFFICULTY:  EasyLEARNING OBJECTIVES:  ECON.MANK.012-Applybasic,economicprinciplesofindividualdecisionmakingthatdeterminehowaneconom

2、ygenerallyworks.TOPICS:  EconomicthinkingU.S.economyKEYWORDS:  BLOOM'S:ComprehensionCUSTOM ID:  001.16.1-MC-MANK082. ThetypicalfirmintheUSeconomy a. hassomedegreeofmarketpower. b. sellsitsproductforapricethatisequaltothemarginalcostofproducingthelastunit. c. isperfectlycompe

3、titive. d. isamonopoly.ANSWER:  aDIFFICULTY:  ModerateLEARNING OBJECTIVES:  ECON.MANK.012-Applybasic,economicprinciplesofindividualdecisionmakingthatdeterminehowaneconomygenerallyworks.TOPICS:  EconomicthinkingU.S.economyKEYWORDS:  BLOOM'S:ComprehensionCUSTOM ID:  002.16.1-M

4、C-MANK083. Whichofthefollowingpairsillustratesthetwoextremeexamplesofmarketstructures? a. perfectcompetitionandoligopoly b. perfectcompetitionandmonopoly c. monopolyandmonopolisticcompetition d. oligopolyandmonopolisticcompetitionANSWER:  bDIFFICULTY:  EasyLEARNING OBJECTIVE

5、S:  ECON.MANK.012-Applybasic,economicprinciplesofindividualdecisionmakingthatdeterminehowaneconomygenerallyworks.TOPICS:  MicroeconomicsKEYWORDS:  BLOOM'S:ComprehensionCUSTOM ID:  003.16.1-MC-MANK084. Thegeneraltermformarketstructuresthatfallsomewherebetweenmonopolyandperfec

6、tcompetitionis a. incompletemarkets. b. imperfectlycompetitivemarkets. c. oligopolymarkets. d. monopolisticallycompetitivemarkets.ANSWER:  bCopyrightCengageLearning.PoweredbyCognero.Page 29DIFFICULTY:  EasyLEARNING OBJECTIVES:  ECON.MANK.093-Examinemonopolisticallycompetitiv

7、efirms.TOPICS:  MicroeconomicsKEYWORDS:  BLOOM'S:KnowledgeCUSTOM ID:  004.16.1-MC-MANK085. Thetwotypesofimperfectlycompetitivemarketsare a. marketswithadvertisingandmarketswithpricecompetition. b. publicgoodsandcommonresources. c. oligopolyandmonopoly. d. monopolisticcompeti

8、tionandoligopoly.ANSWER:  dDIFFICULTY:  EasyLEARNING OBJECTIVES:  ECON.MANK