DEVRY ECO312 WEEK 3 WEEKLY ASSIGNMENTQuery 1. Query
(TCO three) Which of the next constitutes an implicit value
to the Johnston Manufacturing Firm?
Funds of wages to its workplace staff
Lease paid for using gear owned by
the Schultz Equipment Firm
Use of financial savings to pay working bills
as a substitute of producing curiosity earnings
Financial earnings ensuing from present
Query 2. Query
(TCO three) The long term is characterised by
the relevance of the legislation of diminishing
at the very least one fastened enter.
inadequate time for companies to enter or depart
the power of the agency to vary its plant
Query three. Query
(TCO three) Economists would describe the U.S. car
a pure monopoly.
Query four. Query
(TCO three) If a agency in a purely aggressive trade is
confronted with an equilibrium value of $5, its marginal income
could also be both larger or lower than $5.
may even be $5.
shall be lower than $5.
shall be larger than $5.
Query 5. Query
(TCO three) Which of the next is a attribute of pure
Shut substitute merchandise
Limitations to entry
The absence of market energy
Query 6. Query
(TCO three) A pure monopoly happens when
long-run common prices decline constantly
by the vary of demand.
a agency owns or controls some useful resource
important to manufacturing.
long-run common prices rise constantly as
output is elevated.
economies of scale are obtained at comparatively
low ranges of output.
Query 7. Query
(TCO three) Monopolistic competitors means
a market state of affairs the place competitors relies solely on product
differentiation and promoting.
a lot of companies producing a standardized
or homogeneous product.
many companies producing differentiated merchandise.
a number of companies producing a standardized or
Query eight. Query
(TCO three) Use your primary data and your understanding of
market buildings to reply this query. Which of the next firms
most carefully approximates a monopolistic competitor?
Pittsburgh Plate Glass
Ford Motor Firm
Query 9. Query
(TCO three) Which of the next is a novel characteristic of
Query 10. Query
(TCO three) If the four-firm focus ratio for trade X
the 4 largest companies account for 80% of
complete gross sales.
every of the 4 largest companies accounts for
20% of complete gross sales.
the 4 largest companies account for 20% of
complete gross sales.
the trade is monopolistically aggressive.
Query 11. Query
(TCO three) What's the distinction between ACCOUNTING PROFIT,
ECONOMIC PROFIT, and NORMAL PROFIT?
Query 12. Query
(TCO three) Establish the first traits of excellent
competitors and monopolistic competitors. Give examples of every.