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BUDDA2222 BUDDA2222
wrote...
Posts: 361
Rep: 0 0
6 years ago
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
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Replies
wrote...
6 years ago
[Answer to ques. #1]  B

[Answer to ques. #2]  B

[Answer to ques. #3]  A

[Answer to ques. #4]  A

[Answer to ques. #5]  C

[Answer to ques. #6]  B

[Answer to ques. #7]  B

[Answer to ques. #8]  A

[Answer to ques. #9]  A
BUDDA2222 Author
wrote...
6 years ago
Exactly what I needed for my quiz Smiling Face with Open Mouth
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