Eco 561 Week 3 Quiz Essay - 4408 Words

ECO561 Week 3 †¦FREE†¦Quiz with Answers†¦ ** I see a lot of views , but no comments : ( Roguephoenix FaceB**K PLEASE COMMENT TO LET ME KNOW THAT THIS IS HELPING MY FELLOW PHOENIX. 1. A purely- or perfectly-competitive firm would be characterized by which of the following? Hint : The different types of firms include pure competition, pure monopoly, monopolistic competition, and oligopoly. A. Large number of firms, price taker, free entry and exit, and standardized product B. Large number of firms, price maker, free entry and exit, and a differentiated product C. Small number of firms, price maker, limited entry and exit, and a standardized product D. One firm, price maker, limited entry and exit, and a†¦show more content†¦6. In a monopolistic competition industry, if one firm appreciably increased its price from the existing equilibrium price, which of the following outcomes would most likely ensue? Hint : Typically, in a monopolistic competition industry, if one company increases price, the other company also increases their price to make more revenue in the long term. A. It would likely suffer a significant decrease in its market share, because its competitors would be unlikely to deviate from the established equilibrium price. B. The firm would stand to gain much additional revenue if its competitors did not follow suit by raising their prices. C. Any gain or loss in the firms revenue from increasing its price would depend on the price elasticity of demand: The more elastic the demand, the higher the revenue potential from a price increase. D. It would probably see no change in its revenue position as its competitors would raise their prices accordingly. In a monopolistically competitive industry, the goods sold, while not perfect substitutes, can be viewed as acceptable substitutes by most people. As a result, if Firm A raised the price of its good substantially, consumers would decrease the quantity demanded from Firm A and would move to other firms selling similar products. As a result, Firm A would sell few units at the new higher price. As the quantity a firm sells falls, so does its percentage of sales in the industry, alsoShow MoreRelatedEco 561 Week 4 Quiz Free Essay1015 Words   |  5 PagesECO 561 Week 4 Quiz ------------------------------------------------- ** Important ** †¦ ECO 561 Week 4 â€Å"FREE† Quiz w/ correct answers WELL , †¦ ALMOST FREE †¦. The Cost - $ = â€Å"Thank you† I see a lot of views , but no one comments †¦.. : ( PLEASE COMMENT here or to ROGUEPHOENIX ACEB**K , and LET ME KNOW THAT THIS IS HELPING MY FELLOW PHOENIX. If no comments are made †¦. I will stop posting. ------------------------------------------------- 1. Business cyclesRead MoreEco 561 Week 5 Quiz Free1832 Words   |  8 PagesECO 561 Week 5 Quiz ------------------------------------------------- ** Important ** †¦ ECO 561 Week 5 â€Å"FREE† Quiz w/ answers I see lots of views , but no one comments †¦.. : ( PLEASE COMMENT(add notes) at this site or .. go to ROGUEPHOENIX.39 fAcEb**K , and LET ME KNOW THAT THIS IS HELPING you . If no comments are made †¦. This will be my last post . ------------------------------------------------- Good luck †¦. 1. The Classical Theory of Asset Prices assumes whichRead MoreStephen P. Robbins Timothy A. Judge (2011) Organizational Behaviour 15th Edition New Jersey: Prentice Hall393164 Words   |  1573 Pages658.3—dc23 2011038674 10 9 8 7 6 5 4 3 2 1 ISBN 10: 0-13-283487-1 ISBN 13: 978-0-13-283487-2 Brief Contents Preface xxii 1 2 Introduction 1 What Is Organizational Behavior? 3 The Individual 2 3 4 5 6 7 8 Diversity in Organizations 39 Attitudes and Job Satisfaction 69 Emotions and Moods 97 Personality and Values 131 Perception and Individual Decision Making 165 Motivation Concepts 201 Motivation: From Concepts to Applications 239 3 The Group 9 10 11 12 13 14 15 FoundationsRead MoreLibrary Management204752 Words   |  820 PagesLibrary and information center management / Robert D. Stueart and Barbara B. Moran. — 7th ed. p. cm. — (Library and information science text series) Includes bibliographical references and index. ISBN 978–1–59158–408–7 (alk. paper) ISBN 978–1–59158–406–3 (pbk. : alk. paper) 1. Library administration—United States. 2. Information services— United States—Management. I. Moran, Barbara B. II. Title. Z678.S799 2007 025.1—dc22 2007007922 British Library Cataloguing in Publication Data is available. Copyright