Final Exam, Econ 202, ODU Fall 2017 Hame and 64) The kinked demand curve is A) M

Question

Final Exam, Econ 202, ODU Fall 2017 Hame and 64) The kinked demand curve is A) More elastic above the current price than below t 8) Less elastic above the current price than below t c) Of equal elasticity both above and below the current price D) None of the above 65) ATC 18 i6 AVC 12 17 22 The production level that wil mainize prote lor minnie loss) frthefom i, above A) 11 8) 16 C) 17 D) 22 66) The p is: for loss-minimiaing price the firm will charge based on the above ehibn A) 22 B) 18 C) 16 D) 11 67) Which form of inefficiency is unique to a monopoly C) X-inefficiency D) Duplicit inefficiency 68) True/False: In the short-run, a seasonal business shoulid consider fixed cots when deciding to stay open or close down during the off -season: A) True. B) False. Form A 10

Explanation / Answer

Answer:- the kinked demand curve is

Correct Answer:- More elastic above the current price than below it

Reason:- The kinked demand curve is more elastic on the prices greater than the current prices .

Answer 65:- The correct option is:- 17

Reason:- Profit maximization occurs where MR=MC

Answer 66:- The correct Answer is:- 16

Answer 67:- which form of inefficiency is unique to a monopoly

Correct Answer is:- X-inefficiency

Answer 68:- The correct answer is:- FALSE

Reason:- It is the variable cost on which the firm will decide whether to remain in the business or not in short run.

Related Questions

Navigate

• Browse (All)
• Browse F
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.