|
Title: Signaling is the attempt by the uninformed side of the market to uncover the relevant but hidden ... Post by: BUDDA2222 on Feb 27, 2018 Signaling is the attempt by the uninformed side of the market to uncover the relevant but hidden characteristics of the informed party.
a. True b. False QUESTION 2 Economists assume that firms seek to a. maximize accounting profit b. maximize economic profit c. maximize total revenue d. maximize normal profit e. minimize cost QUESTION 3 Average revenue, demand, and price are all depicted by the same curve for a monopoly. a. True b. False QUESTION 4 Screening is the attempt by the uninformed side of the market to uncover the relevant but hidden characteristics of the informed party. a. True b. False QUESTION 5 A perfectly competitive firm has no control over the a. quantity of output produced b. quantities of inputs used c. price of the product d. type of good produced e. types of inputs used QUESTION 6 Average revenue equals the change in total revenue divided by the change in the quantity of output produced. a. True b. False QUESTION 7 Which of the following is not related to adverse selection in insurance markets? a. An insurance company has no way of distinguishing among applicants b. An insurance company must charge a higher price to applicants who are good health risks c. The price of insurance is attractive to poor health risks, but not to good ones d. The insured group becomes less healthy on average e. Because of the relative unhealthiness of the insured group, rates must rise QUESTION 8 The demand curve facing a perfectly competitive firm is a. perfectly elastic b. perfectly inelastic c. unit elastic d. downward-sloping e. identical to the industry demand curve QUESTION 9 In order to sell an additional unit of its product, a monopolist must decrease price on all units. a. True b. False Title: Signaling is the attempt by the uninformed side of the market to uncover the relevant but hidden ... Post by: PrincessArizona on Feb 27, 2018 Title: Signaling is the attempt by the uninformed side of the market to uncover the relevant but hidden ... Post by: BUDDA2222 on Feb 27, 2018 Exactly what I needed for my quiz :D
|