ECO 550 Final Examination 36 Concerns with Accurate Answers
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ECO 550 Final Examination 36 Questions with Correct Answers
The short-run cost function is:
where most inputs towards the production method are adjustable
relevant to decisions in which a number of inputs for the production method are set not highly relevant to optimal prices and development output decisions crucial in making optimal purchase decisions in new creation facilities Within a study of banking simply by asset size over time, we are able to find which will asset sizes are looking after become more dominant. � The type that is progressively more predominant can be presumed to be least cost. This is named: Answer
regression to the mean analysis.
architectural cost research.
a Willie Sutton analysis.
Which of the following can be not
an assumption from the linear breakeven model:
constant selling price per device
decreasing variable cost every unit
fixed costs are independent of the end result level
just one product (or a constant blend products) will be produced and sold almost all costs may be classified as fixed or variable
A ____ total expense function signifies that marginal costs ____ while output is usually increased. Answer
linear; increase linearly
quadratic; are regular
cubic; enhance linearly
linear; are regular
Long range telephone services has become a competitive market. The standard cost every call is definitely $0. 05 a minute, and it's really declining. � The most likely reason for the declining value for extended distance service is: �
Governmental pressure to lower the price
Reduced demand for long distance services
Entry in to this market pushes prices down
Cheap for a clip or barrel of commodity future trading
Increased cost of providing lengthy distance support
What is the money maximization level for a firm in a purely competitive environment? �
The output in which
The output in which P < MC
The outcome where S > MC
The output wherever
The output wherever AVC < P
The problems of asymmetric info exchange arise ultimately because �
one party to the exchange possesses diverse information than another one party has more details than one more
one get together knows nothing
one party cannot separately verify the data of another information is definitely scarce
An " experience good” is the one that:
Just an expert are able to use
Has undetectable quality when purchased
Could be readily skilled simply by holding or mouth watering
Improves with age, like a fine wine
Question being unfaithful
Of the following, which is not
an economic reason for public utility regulation?
production process exhibiting increasing comes back to scale
constant cost industry
prevention of replication of services
protection of shoppers from price discrimination
____ because practiced by public ammenities is designed to inspire greater usage and therefore propagate the fixed costs in the utility's herb over a bigger number of models of result. �
Peak weight pricing
Inverted block pricing
First level price discrimination
In natural monopoly, AC continually declines as a result of economies in distribution or perhaps in creation, which has a tendency to found in companies which confront increasing earnings to range. � In the event price were set comparable to marginal cost, then: �
selling price would the same average cost.
price might exceed normal cost.
value would be below average cost.
cost would be in the profit making the most of level to get natural monopoly �
Regulatory companies engage in each of the following activities except _______. �
controlling entry into the governed industries
supervising the quality of...