Few questions... economics?

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Asked at 2012-09-20 15:57:02
91) A ______ is anything that could make it more difficult for a competitor to enter a market MedlinePlus a) MedlinePlus monopolistic input b) marginal revenue
c) Barrier to entry MedlinePlus d) Perfect competition market MedlinePlus I chose B MedlinePlus MedlinePlus 92) A good example of monopolistic competition is MedlinePlus a) A restaurant area MedlinePlus b) the life insurance companies MedlinePlus c) insurance companies auto MedlinePlus d) lawyers MedlinePlus I chose B MedlinePlus MedlinePlus 93) the four main types of market structure are MedlinePlus a) perfect competition, monopolistic competition, oligopoly and monopoly. MedlinePlus b) land, labor, capital and know-how. MedlinePlus c) average, market, market equilibrium, balance and marginal product MedlinePlus d) the marginal cost, revenue, product and price MedlinePlus I chose C MedlinePlus MedlinePlus 94 The marginal revenue is generally MedlinePlus a) less than the average cost MedlinePlus b) greater than the price of MedlinePlus c) less than the price of MedlinePlus d) less than the marginal product MedlinePlus I chose C MedlinePlus MedlinePlus 95) The profit-maximizing rule says that a seller will expand production to the point: MedlinePlus a) where marginal revenue equals price MedlinePlus b) marginal revenue equals marginal cost MedlinePlus c) when the marginal cost equals price MedlinePlus d) when the marginal cost exceeds marginal revenue. MedlinePlus MedlinePlus chose B MedlinePlus 96) Market power is MedlinePlus a) the combination of price and product MedlinePlus b) the balance between average and marginal product MedlinePlus c) another term for balance
d) the ability to raise prices above the level that would produce perfect competition MedlinePlus chose D MedlinePlus MedlinePlus 97) when firms have market power, they are able to change a price higher than the price of perfect competition. This is expressed graphically with market equilibrium MedlinePlus a) goes right MedlinePlus b) go left MedlinePlus c) maintain the same MedlinePlus d) vertically curved MedlinePlus I chose C MedlinePlus MedlinePlus 98) Suppose that all the restaurants in town get together and agree to increase the price of dinner for $ 15 from $ 10. What can happen? MedlinePlus a) The earnings decline MedlinePlus b) wholesale costs increase MedlinePlus c) a lower number of meals served MedlinePlus d) the city would be happier MedlinePlus chose D MedlinePlus MedlinePlus 99) A profitable business will attract MedlinePlus
) new competitors b) Government regulation MedlinePlus c) increasing marginal income MedlinePlus d) existing businesses MedlinePlus I chose C MedlinePlus MedlinePlus 100) In perfect competition, higher cost firms MedlinePlus a) prosper and grow MedlinePlus b) increase the marginal income MedlinePlus c) tend to go bankrupt if you can adjust MedlinePlus d) tend toward oligopoly MedlinePlus I chose C MedlinePlus MedlinePlus I chose the answers .. but not sure if .. any help would be great ... thanks

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