l7. In th e monopolistic market structure the marginal revenue must be greater t

Question

l7. In th e monopolistic market structure the marginal revenue must be greater than the average revenue. (A) True (B) False 18. Polic I8 Policy makers can rogulate a monopoly to achicve productive and allocative efficieney. (A) Tnue (B) False 19. If marginal social benefit is greater than the marginal social cost in Patria: (A) Patria must be underalllocating economic resources (B) Patria must be overallocating economic resources (C) Patria must be using its economic resources efficiently (D) Patria must legislate production taxes 20. A price floor is most likely to produce which of the following outcomes? (A) Rationing (B) Black markets (C) Government subsidies (D) Shortages In the long-run, a firm is most likely to experience economies of scale: (A) When it is experiencing diminishing returns (B) When per unit cost of production is constant (C) When per unit cost of production is falling (D) When per unit cost of production is Increasing 22. If total cost is $10M, marginal cost is $3M, total benefit is $14M, and marginal benefit is $2M. Net benefit must be: (A) $2M (B) S7M (C) S4M (D) S11M 23. Which of the following laws prohibits the purchase of stocks to restrain trade? (A) The n Act (B) The Clayton Act (C) The Cellar-Kefauver Act (D) The Sarbanes-Oxley Sherma Act Suppose the Gini coefficients in Patri income distribution is most likely to be more uneven in: (A) Patria (B) Poveri 24. a and Poveria are 0.30 and 0.50 respectively, males and females are respectively paid $1,000 and $800 a week for identical ence. The wage disparity will most likely suggest that there is 25. Suppo se qualification and experi gender discrimination. (A) True (B) False

Explanation / Answer

Ans 17 The correct option is a i.e True.

Ans 18 The correct option is a i.e. True.

Ans 19 The correct option is b i.e. Patria must be overallocating economic resouces.

Ans 20 The correct option is c i.e. government subsides.

Ans 21 The correct option is b i.e. when per unit cost of production is constant.

Ans 22 The correct option is c i.e. $ 4M

Ans 23 The correct option is a i.e. Sherman act

Ans 24 The correct option is a. i.e. Patria

Ans 25 The correct option is b i.e. False.

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