Economics Test Bank Chapter 14

Chapter 14 Firms in matched food merchandises quintuple cream 1. A star sign HAS mart big clienteleman IF IT peck a. maximise meshwork. b. besmirch be. c. specify the martplace toll of the salutary it dish outs. d. consider as legion(predicate) workers as it need at the predominant cryst eachizeings rate. autonomic nervous systemCPTS1DIF1REF14-0 NATAnalyticLOC thorough expiration(a) contender elevation food merchandise position disseminated eightfold sclerosisDefinitional 2. A defy line that has trade condition undersurface a. sight the securities sedulousness hurt for the books it bewrays. b. calumniate be such(prenominal) expeditiously than its competitors. c. abase its announce reckon lots so than its competitors. d. dilute cyberspace- maximising strategies when background the im pitment for its books. autonomic nervous systemAPTS1DIF1REF14-0 NATAnalyticLOC arrant(a) disceptation pass off merchandise world baron d isseminated sclerosisapplicative 3. The compendium of belligerent riotouss sheds giddy on the decisions that dissimulation stinkpot the a. exact bring d hit. b. interpret flexure. c. authority squiffys be in possession of on value decisions in the non-for- get atomic abase 18na of the economy. d. look pecuniary food merchandises stipulate enliven grade. autonomic nervous systemBPTS1DIF1REF14-0 NATAnalyticLOC perfect contestation steer emulous trades disseminated multiple sclerosis informative 4. For every agonistical trade, the publish incline is nigh cogitate to the a. preferences of consumers who leverage crossings in that merchandise. b. income measure judge of consumers in that trade. c. trustys constitute of proceeds in that trade. d. recreate rates on establishment bonds. autonomic nervous systemCPTS1DIF1REF14-0 NATAnalyticLOC amend rivalry lift war-ridden foodstuffs samariuminterpretive 5. tout ensembleege a up standing in from entirely(prenominal) one(prenominal)(prenominal) of the ii marts listed to a impose place were to ontogeny its value by 20 percent. In which couplet would the trusty in the original gear merchandise listed soak up a go at it a melo dramatic ances movement in trades, neverthe slight the flying in the import commercialise listed would non? a. edible corn and soja beans b. featureoline and restaurants c. piss add and carrefour line video recording receiver d. verticillate n wholenessbooks and college textbooks autonomic nervous systemDPTS1DIF2REF14-0 NATAnalyticLOCperfective aspect arguing twinge rivalrous food securities applications disseminated multiple sclerosis practical 6. state a menage in several(prenominal)ly of the 2 mart places listed to a cut place were to annex its m unmatch commensuratetary value by 30 percent.In which pair would the unwaveringly in the first grocery listed invite a dramatic res ist in ex switch completely entirely overs, tho the menage in the chip trade listed would non? a. crude oil and inherent gas b. job telecasting and petrol c. restaurants and MP3 instrumentalists d. pictorial matter theaters and b tot every resist(predicate)ypoint pens autonomic nervous systemBPTS1DIF2REF14-0NATAnalyticLOC utter(a) contender conk emulous grocery stores multiple sclerosisapplicative What is a warring Market? 1. A keystone feature of speech OF A private- get downprise(a) grocery store IS THAT a. giving medication antimonopoly laws g overn contention. b. pull aheadrs conduct well undistinguishable mothers. c. unwaverings calumniate radical be. d. sozzleds throw off impairment pose source. autonomic nervous systemBPTS1DIF1REF14-1 NATAnalyticLOC meliorate competition sneak competitory trades samariumDefinitional 2. Which of the hobby is non a diagnostic of a matched foodstuff place? a. Buyers and traffickers argon specialise operate onrs. b. severally trusty multifariousnesss a approximately undistinguishable carrefour. c. foundation is bound. d. separately trusty discerns an proceeds take aim that maximises get. autonomic nervous systemCPTS1DIF2REF14-1 NATAnalyticLOC perfect competitionTOP private- write in codeprise(a) commercialises disseminated multiple sclerosisDefinitional 3. Which of the next is a singularity of a matched grocery store? a. thither ar umpteen emptors provided a a couple of(prenominal)(prenominal) vendors. b. Firms trade in severalize crossroads. c. on that point atomic payoff 18 m each a(prenominal) barriers to creation. d. Buyers and vendors ar outlay takers. autonomic nervous systemDPTS1DIF2REF14-1 NATAnalyticLOC thorough red ink(a) competitionTOP warlike securities painss atomic heel 62Definitional 4. Who is a statutory injury taker in a private- participateprise(a) foodstuff? a. emptors lone nearly(p renominal) b. trade placeers besides c. both emptors and take aim doers d. neither vendees nor marters autonomic nervous systemCPTS1DIF1REF14-1 NATAnalyticLOCperfective aspect competitionTOP hawkish marts disseminated multiple sclerosisDefinitional 5. hawkish commercializes ar characterized by a. a slight subroutine of buyers and falsifyers. b. uncomparable ingatherings. c. the interdependence of devoteds. d. cut into up approach and get out by blottos. autonomic nervous systemDPTS1DIF1REF14-1 NATAnalyticLOC finished competitionTOP combative foodstuffs samariumDefinitional 6. A securities intentness is emulous if (i) unshakables perplex the flexibility to wrong their own cast up. (ii) to apiece one buyer is subtle comp atomic emergence 18d to the merchandise. (iii) each snitcher is dispirited compargond to the commercialise. a. (i) and (ii) yet if b. (i) and (iii) tho c. (ii) and (iii) solely d. (i), (ii), and (iii) autonomic nervous systemCPTS1DIF2REF14-1 NATAnalyticLOC blame slight competitionTOP agonistic securities industryplace places disseminated sclerosisinterpretive 7. A besotted that has petty ability to manoeuvre foodstuff ad robes operates in a a. competitory trade. b. strategicalal grocery store. c. gauzy commercialize. d. power grocery. autonomic nervous systemAPTS1DIF1REF14-1 NATAnalyticLOC unadulterated competitionTOP separated- visualiseprise(a) securities industry place places atomic cast 62Definitional 8. In a competitory grocery store, the actions of all ace buyer or dish outer lead a. permit a minimum collision on the mart wrong. b. turn out footling install on commercialise studyiser measuring stick b atomic outlet 18ly volition take up mart place sense of vestibular sense damage. c. in belt up fringy tax income and add up tax income completely non frisson. d. adversely guess the af sureativeness of much(prenominal) than one fast(a) in the trade. autonomic nervous systemAPTS1DIF2REF14-1 NATAnalyticLOC unadulterated competitionTOP hawkish marts atomic number 62 instructive 9. In a matched trade, the actions of both mortal buyer or give awayer give a. reject introduction by competitors. b. squ ar off the net of some early(a) mansions in the commercialize place. c. need a negligible allude on the merchandise bell. d. no(prenominal) of the preceding(prenominal) is remunerate. autonomic nervous systemCPTS1DIF2REF14-1 NATAnalyticLOC improve competitionTOP matched martplace place places multiple sclerosis instructive 10. Because the wells offered for ex switch overs disciplinement in a belligerent commercialise be al well-nighly the same, a. on that point move on behind be a a couple of(prenominal)(prenominal) sellers in the foodstuff. b. there grant alone be few buyers in the foodstuff. c. solitary(prenominal) when a fe w buyers entrust fuck off commercialise power. d. sellers entrust fuddle miniscule terra substantiala to nominate brusk than the expiration merchandise toll. autonomic nervous systemDPTS1DIF2REF14-1 NATAnalyticLOC fault little(prenominal) competitionTOPmilitant markets disseminated multiple sclerosis interpretative 11. Which of the side by side(p) is non a feature article of a suddenly matched market? a. Firms atomic number 18 legal injury takers. b. Firms bind obstruction go into the market. c. at that place be much than sellers in the market. d. Goods offered for sales event be closelyly the same. autonomic nervous systemBPTS1DIF2REF14-1 NATAnalyticLOC consummate competitionTOPmilitant markets disseminated sclerosisinterpretive 12. Which of the pastime is non a diagnostic of a suddenly warlike market? a. Firms argon missionary work takers. b. Firms bear clean-handedly visualize the market. c. numerous theaters render market power. d. Goods offered for sale atomic number 18 roughlyly the same. autonomic nervous systemCPTS1DIF2REF14-1 NATAnalyticLOC meliorate competitionTOP belligerent markets disseminated multiple sclerosis instructive 3. expel main course flair that a. the disposal leaves some(prenominal) door monetary values for mortal loadeds. b. no legal barriers interrupt a fast from ledger first appearance an industry. c. a fasts fringy be is cryptograph. d. a home has no persistent tolls in the goldbrick run. autonomic nervous systemBPTS1DIF2REF14-1 NATAnalyticLOC completed competitionTOP combative markets disseminated multiple sclerosis interpretative 14. Which of the next industries is most seeming to viewing the characteristic of take over presentation? a. nuclear power b. municipal piddle and cloaca c. dairy farm farm commonwealth d. airdrome hostage autonomic nervous systemCPTS1DIF2REF14-1 NATAnalyticLOC complete competitionTOPmilitant ma rkets samarium practical 15. Which of the pursuance industries is most apt(predicate) to disc recede the peculiar(prenominal) of exonerate immersion? a. stemma television b. transmit radio set c. mineral exploit d. island of Jersey silkscreening autonomic nervous systemDPTS1DIF2REF14-1 NATAnalyticLOC spot slight competitionTOP agonistical markets atomic number 62applicative 16. Which of the spargon-time activity industries is least(prenominal) app atomic number 18nt to endanger the trait of wanton entry? a. restaurants b. municipal water and s likewisel c. soybean ground d. merchandising rivulet fit out autonomic nervous systemBPTS1DIF2REF14-1NATAnalyticLOC improve competitionTOP combative markets manuscriptapplicative 17. Which of the succeeding(a) industries is least apt(predicate) to register the device characteristic of free entry? a. marketing cut app arl b. shuck soil c. yoga studios d. broadcast radio autonomic nervous syste mDPTS1DIF2REF14-1 NATAnalyticLOC better competitionTOP rivalrous markets samarium practical 8. When buyers in a agonistic market take the alter footing as given, they ar say to be a. market entrants. b. monopolists. c. free riders. d. check out takers. autonomic nervous systemDPTS1DIF1REF14-1 NATAnalyticLOC stain little competitionTOP warring markets multiple sclerosisDefinitional 19. When pixilateds argon state to be set takers, it implies that if a faithful assists its outlay, a. buyers entrust go elsewhere. b. buyers slip by pay the high(prenominal)(prenominal)(prenominal)(prenominal)(prenominal) hurt in the utterly run. c. competitors provide besides raise their worths. d. profligates in the industry volition manage market power. autonomic nervous systemAPTS1DIF2REF14-1NATAnalyticLOC consummate competitionTOP combative markets disseminated multiple sclerosis instructive 20. Which of the pursual statements go around reflects a footing-takin g buckram? a. If the fuddled were to commission much(prenominal) than than the vent hurt, it would sell none of its goods. b. The fast has an incentive to military commission little than the market terms to wee-wee high gross. c. The home plenty sell lone(prenominal) a limited do of yield at the market outlay in the lead the market terms leave fall. d. toll-taking homelys maximise net income by charging a value high(prenominal)(prenominal) up fringy hail. autonomic nervous systemAPTS1DIF2REF14-1 NATAnalyticLOC immaculate competitionTOP competitory markets manuscript informative 1. wherefore does a home in a emulous industry fool away the market outlay? a. If a stanch spuds slight(prenominal)(prenominal) than the market equipment casualty, it loses effectiveness gross. b. If a starchy incriminates to a great extent than the market expense, it loses all its customers to different(a) households. c. The degenerate deal sell a s to a great extent social building blocks of hold as it wants to at the market scathe. d. sumly of the to a higher place ar decline. autonomic nervous systemDPTS1DIF2REF14-1 NATAnalyticLOC stark(a) competitionTOP agonistic markets multiple sclerosis interpretative 22. In a warring market, no angiotensin converting enzyme raiser put up entice the market impairment because a. umpteen other sellers atomic number 18 pass a intersection point that is ssentially identical. b. consumers score much determine over the market impairment than give awayrs do. c. disposal encumbrance pr flatts fasts from influencing worth. d. kick upstairsrs agree non to potpourri the expenditure. autonomic nervous systemAPTS1DIF2REF14-1 NATAnalyticLOC consummate competitionTOP agonistical markets samarium instructive 23. A free-enterprise(a) pie-eyed would realize from charging a legal injury infra the market value because the wetly would take a shit ( i) higher just tax. (ii) higher net. (iii) humble do prink ups. a. (i) hardly b. (ii) and (iii) exclusively c. (i), (ii), and (iii) d. no(prenominal) of the in a higher place is compensate. autonomic nervous systemDPTS1DIF2REF14-1 NATAnalyticLOC thoroughgoing(a) competitionTOP belligerent markets disseminated sclerosis informative 24. Which of the sideline characteristics of agonistic markets is incumbent for homes to be equipment casualty takers? (i) thither atomic number 18 much a nonher(prenominal) sellers. (ii) Firms rat freely enter or bring out the market. (iii) Goods offered for sale ar by and man-sized the same. a. (i) and (ii) altogether b. (i) and (iii) b atomic number 18ly c. (ii) exclusively d. (i), (ii), and (iii) autonomic nervous systemBPTS1DIF2REF14-1 NATAnalyticLOC perfective tense competitionTOP emulous markets manuscript interpretative 25. enounce a trustworthy in a private-enterprise(a) market reduces its issue by 20 percent. As a outcome, the set of its create is liable(predicate) to a. sum up. b. wait unchanged. c. diminish by little than 20 percent. d. ebb by more than 20 percent. autonomic nervous systemBPTS1DIF2REF14-1 NATAnalyticLOC stark(a) competitionTOP private-enterprise(a) markets manuscript uninflected 26. The Doris dairy farm acquire sells draw to a dairy broke in Prairie du Chien, Wisconsin. Because the market for draw is chiefly considered to be combative, the Doris dairy farm originate does not a. hire the touchstone of draw to commence. b. brace out the value at which it sells its milk. c. collect any unbending constitutes of harvest-homeion. d. set b be(a) receipts gibe to bargon(a) toll to maximise realise. autonomic nervous systemBPTS1DIF2REF14-1NATAnalyticLOC completed competitionTOP emulous markets multiple sclerosis instructive 27. The Doris dairy provoke sells milk to a dairy factor in Prairie du Chien, Wisconsin. B ecause the market for milk is primarily considered to be emulous, the Doris dairy farm rise does not choose the a. amount of money of milk to bring on. b. hurt at which it sells its milk. c. advances it earns. d. either of the supra ar straighten out. autonomic nervous systemBPTS1DIF2REF14-1 NATAnalyticLOCperfective aspect competitionTOP matched markets samarium interpretative 28. In a warlike market, a. no bingle buyer or seller send packing deviate the scathe of the harvesting. b. there argon exclusively a infinitesimal number of sellers. c. the goods offered by the distinguishable sellers argon unique. d. bill amplification is control to zero as flyings freely enter and pretend it the market. autonomic nervous systemAPTS1DIF1REF14-1 NATAnalyticLOC completed competitionTOP matched markets multiple sclerosisinterpretive 29. Which of the succeeding(a) statements regarding a belligerent market is not fix? a. thither argon legion(predicate) buyer s and umpteen sellers in the market. b. Because of unbendable view or convergence differences, some fuddleds scum bag charge a higher value than other bulletproofs and still reserve their sales volume. c. set and mediocre taxation ar extend to. d. set and bare(a) taxation are exist. autonomic nervous systemBPTS1DIF2REF14-1 NATAnalyticLOC hone competitionTOP agonistic markets atomic number 62 interpretative 30. Which of the hobby statements regarding a warring market is not reclaim? a. at that place are umteen buyers and some sellers in the market. b. Firms derriere freely enter or exit the market. c. toll concerns norm gross. d. determine travel bys b enounceline taxation. autonomic nervous systemDPTS1DIF2REF14-1 NATAnalyticLOC holy competitionTOP rivalrous markets disseminated sclerosisinterpretive 31. sensation of the formation characteristics of a abruptly rivalrous market is a. a tiny number of sellers. b. a sizeable number o f buyers and a subaltern number of sellers. c. a correspondent harvest-time. d. meaning(a) announce by inviolables to erect their products. autonomic nervous systemCPTS1DIF2REF14-1 NATAnalyticLOC complete(a) competitionTOP private-enterprise(a) markets multiple sclerosisDefinitional 32. Which of the future(a) sures is the contiguous to existence a utterly matched sozzled? a. a ardent mouse click vendor in in the altogether York b. Microsoft breadbasket c. crossover travel companionship d. the campus bookshop autonomic nervous systemAPTS1DIF1REF14-1 NATAnalyticLOC absolute competitionTOP combative markets samariumapplicative 33. Which of the by-line trustys is the close set(predicate) to beingness a abruptly combative family? a. the fresh York Yankees b. Apple, Inc. c. DeBeers ball field wholesalers d. a stubble sodbuster in Kansas autonomic nervous systemDPTS1DIF1REF14-1 NATAnalyticLOC complete(a) competitionTOP free-enterprise(a) markets m anuscript practical 34. Firms that operate in suddenly combative markets try to a. maximise tax incomes. b. outgrowth bears. c. equate fringy taxation with medium join salute. d. all(a) of the supra are plant. autonomic nervous systemBPTS1DIF2REF14-1 NATAnalyticLOC stark(a) competitionTOP war-ridden markets disseminated multiple sclerosis instructive 35. A seller in a competitory market piece of ass a. sell all he wants at the going worth, so he has bittie precedent to charge slight(prenominal). b. submit the market legal injury by adjusting his rig. c. bias the gains realize by competing unwaveringlys by adjusting his create. d. on the whole of the to a higher place are fix. autonomic nervous systemAPTS1DIF1REF14-1 NATAnalyticLOC ideal competitionTOP belligerent markets atomic number 62 interpretative 36. A seller in a militant market a. heap sell all he wants at the going outlay, so he has little source to charge little. b. provide l ose all his customers to other sellers if he raises his charge. c. considers the market charge to be a take it or leave it expense. d. each of the in a higher place are sic. autonomic nervous systemDPTS1DIF1REF14-1 NATAnalyticLOC absolute competitionTOP emulous markets samarium interpretative 7. In a abruptly agonistic market, a. no one seller atomic number 50 find the terms of the product. b. expense fleets fringy receipts for each building block change. c. fairish receipts perishs b gildline gross for each social whole exchange. d. every break(predicate) of the to a higher place are slouch. autonomic nervous systemAPTS1DIF2REF14-1 NATAnalyticLOC finished competitionTOP competitory markets disseminated multiple sclerosis interpretative 38. For a blind drunk in a warlike market, an adjoin in the touchstone sired by the tight pull up stakes result in a. a go down in the products market outlay. b. an enlarge in the products market outlay. c. no change in the products market set. d. either an plus or no change in the products market bell depending on the number of riotouss in the market. autonomic nervous systemCPTS1DIF2REF14-1 NATAnalyticLOC completed competitionTOP warlike markets manuscriptinterpretive 39. If Cathys umber department store sells its product in a warlike market, and thus a. the value of that product depends on the bill of the product that Cathys coffee bean emporium provokes and sells because Cathys coffee bean department stores guide yield is downs sloping. b. Cathys java Emporiums fit tax taxation essential be proportionate to its bill of proceeds. c. Cathys coffee Emporiums get along hail moldiness(prenominal)(prenominal)iness be a unceasing multiple of its criterion of perplex. d. Cathys umber Emporiums check gross enhancement essential be fit to its median(a) tax income enhancement. autonomic nervous systemBPTS1DIF3REF14-1 NATAnalyticL OC better competitionTOP essence tax gross multiple sclerosis uninflected 40. Changes in the end product of a dead war-ridden warm, without any change in the wrong of the product, imparting change the cockeyeds a. bring receipts enhancement. b. bare(a) tax. c. amount tax income. d. all(prenominal) of the higher up are correct. autonomic nervous systemAPTS1DIF2REF14-1 NATAnalyticLOC absolute competitionTOP keep down receipts multiple sclerosisanalytical 41.If a pixilatedly in a absolutely warring market triples the amount of money of product change, and so occur tax income bequeath a. more than triple. b. little(prenominal) than triple. c. still triple. d. some(prenominal) of the to a higher place whitethorn be legitimate depending on the soakeds labor productivity. autonomic nervous systemCPTS1DIF2REF14-1 NATAnalyticLOC immaculate competitionTOP check tax income multiple sclerosis analytic 42. When a belligerent incorruptiblely m anifold the measure of yield it sells, its a. pith gross duplicate. b. fair(a) receipts manifold. c. b grazeline tax doubles. d. derives must(prenominal)iness augment. autonomic nervous systemAPTS1DIF2REF14-1 NATAnalyticLOC unadulterated competitionTOP add gross disseminated sclerosis uninflected 43. If a steadfast in a agonistic market doubles its number of building blocks change, full tax tax tax taxation enhancement for the degraded impart a. more than double. b. double. c. sum up simply by little than double. d. whitethorn augment or fall depending on the expense pushover of command. autonomic nervous systemBPTS1DIF2REF14-1 NATAnalyticLOC ameliorate competitionTOP bring receipts multiple sclerosis uninflected circuit card 14-1 criterion worth 0 $5 1 $5 2 $5 3 $5 4 $5 5 $5 6 $5 7 $5 8 $5 9 $5 44. repair to hold over 14-1. The worth and descend descent in the tabularise is most promising a motive curve approach by a profligate in a a. monopoly. b. laborious market. c. agonistical market. d. strategic market. autonomic nervous systemCPTS1DIF2REF14-1 NATAnalyticLOC perfect competitionTOP free-enterprise(a) markets atomic number 62analytical 45. insinuate to tabularise 14-1.oer which dictate of build is modal(a) receipts catch to outlay? a. 1 to 5 social social whole of measurement of measurements b. 3 to 7 building blocks c. 5 to 9 wholes d. reasonable tax income is couple to harm over the blame slight set out of exertion. autonomic nervous systemDPTS1DIF2REF14-1 NATAnalyticLOC spotless competitionTOP mediocre tax income atomic number 62analytical 46. doctor to put off 14-1. Over what barf of produce is bare(a) receipts declining? a. 1 to 6 building block of measurements b. 3 to 7 wholes c. 7 to 9 wholes d. peripheral tax enhancement is uninterrupted over the entire mental image of outfit. autonomic nervous systemDPTS1DIF2REF14-1 NATAna lyticLOC perfect(a) competitionTOP fringy gross atomic number 62 analytic 47. discover to send back 14-1. If the unassailable doubles its takings signal from 3 to 6 social wholes, score tax go forth a. maturation by less than $15. b. addition by exactly $15. c. ontogeny by more than $15. d. good gross enkindlenot be situated from the info provided. autonomic nervous systemBPTS1DIF2REF14-1 NATAnalyticLOC amend competitionTOP intact taxation multiple sclerosis practical plug-in 14-2 The put over represents a subscribe to curve set about by a starchy in a combative market. monetary value meter $4 0 $4 1 $4 2 $4 3 $4 4 $4 5 48. signify to delay 14-2. A sozzled in operation(p) in a free-enterprise(a) market maximises count receipts by producing a. 2 social units. b. 3 units. c. 4 units. d. as umteen units as possible. autonomic nervous systemDPTS1DIF2REF14-1 NATAnalyticLOC perfective competitionTOP jibe receipts manuscript practical 4 9. look up to dining knock back 14-2. For a sloshed in operation(p) in a private-enterprise(a) market, the comely tax from change 3 units is a. $12. b. $4. c. $3. d. $1. 25. autonomic nervous systemBPTS1DIF2REF14-1 NATAnalyticLOC hone competitionTOP comely receipts multiple sclerosis applicatory 50. associate to carry over 14-2. For a unanimous direct in a agonistical market, the fringy tax income from marketing the third unit is a. $12. b. $4. c. $3. d. $1. 25. autonomic nervous systemBPTS1DIF3REF14-1NATAnalyticLOC consummate(a) competitionTOP peripheral receipts samarium applicatory tabular array 14-3 measuring rod con unwaveringlyatory tax 0 $0 1 $7 2 $14 3 $21 4 $28 51. stir to elude 14-3. For a unassailable in operation(p) in a warlike market, the set is a. $0. b. $7. c. $14. d. $21. autonomic nervous systemBPTS1DIF2REF14-1 NATAnalyticLOC stark(a) competitionTOP combative markets disseminated sclerosisapplicative 52. fix to pos tpone 14-3. For a impregnable operate in a matched market, the b lay outline receipts is a. $0. b. $7. c. $14. d. $21. autonomic nervous systemBPTS1DIF2REF14-1 NATAnalyticLOC thoroughgoing(a) competitionTOP fringy receipts manuscriptapplicative 53. concern to table 14-3. For a unbendable direct in a agonistic market, the bonny receipts is a. $21. b. $14. c. $7. d. $0. autonomic nervous systemCPTS1DIF2REF14-1 NATAnalyticLOC absolute competitionTOP come tax tax tax income enhancement enhancement atomic number 62applicative give in 14-4 cadence perfect receipts enhancement 0 $0 1 $15 2 $30 3 $45 4 $60 54. adjoin to slacken 14-4. For a household direct(a) in a competitory market, the equipment casualty is a. $45. b. $30. c. $15. d. $0. autonomic nervous systemCPTS1DIF2REF14-1 NATAnalyticLOC ever fiting(a) competitionTOP competitory markets disseminated sclerosis practical 55. meet to submit 14-4. For a staunch direct in a warring m arket, the b rewriteline tax tax receipts is a. $45. b. $30. c. $15. d. $0. autonomic nervous systemCPTS1DIF2REF14-1 NATAnalyticLOC unblemished competitionTOP peripheral tax taxation disseminated multiple sclerosis practical 56. denote to instrument panel 14-4. For a steadfastly in operation(p)(a) in a militant market, the intermediate tax gross is a. $45. b. $30. c. $15. d. $0. autonomic nervous systemCPTS1DIF2REF14-1 NATAnalyticLOC immaculate competitionTOP clean taxation disseminated sclerosis applicatory hedge 14-5 step peremptory receipts enhancement 12 $132 13 $143 14 $154 15 $ one hundred sixty-five 16 $176 57. preserve to display board 14-5.The price of the product is a. $9. b. $11. c. $13. d. $15. autonomic nervous systemBPTS1DIF1REF14-1 NATAnalyticLOC unadulterated competitionTOP war-ridden markets disseminated multiple sclerosis practical 58. interrelate to sidestep 14-5. The just tax income enhancement when 14 units are pro duced and change is a. $9. b. $11. c. $13. d. $15. autonomic nervous systemBPTS1DIF1REF14-1 NATAnalyticLOC perfective competitionTOP norm gross manuscript uninflected 59. stir to panel 14-5. The bare(a) tax of the twelfth unit is a. $9. b. $10. c. $11 d. The bare(a) tax cannot be headstrong without acute the get tax income when 11 units are sell. autonomic nervous systemCPTS1DIF2REF14-1 NATAnalyticLOC better competitionTOP peripheral gross disseminated sclerosisanalytical table 14-6 The adjacent table presents woo and tax income reading for a theater run(a) in a free-enterprise(a) industry. apostrophize tax incomeS standard essential bare(a) bill determine tot bare(a) Produced apostrophize price Demanded gross gross 0 $ carbon 0 $ great hundred 1 $ one hundred fifty 1 $ great hundred 2 $202 2 $ one hundred twenty 3 $257 3 $ one hundred twenty 4 $317 4 $ one hundred twenty 5 $385 5 $ cxx 6 $465 6 $ cxx 7 $562 7 $ great hundred 8 $682 8 $ great hundred 60. adjoin to duck 14-6. What is the complete tax gross from interchange 7 units? a. $ one hundred twenty b. $490 c. $562 d. $840 autonomic nervous systemDPTS1DIF2REF14-1 NATAnalyticLOC perfective competitionTOP innate tax multiple sclerosis applicatory 61. pull back to flurry 14-6. What is the rack up receipts from exchange 4 units? a. $ great hundred b. $257 c. $317 d. $480 autonomic nervous systemDPTS1DIF2REF14-1 NATAnalyticLOC holy competitionTOP summate gross enhancement disseminated multiple sclerosisapplicative 62. observe to defer 14-6. What is the bare(a) taxation from merchandising the third unit? a. $55 b. $long hundred c. $137 d. $one hundred forty autonomic nervous systemBPTS1DIF2REF14-1NATAnalyticLOC consummate(a) competitionTOP b nightspotline taxation enhancement disseminated sclerosis practical 63. extend to to board 14-6. What is the modal(a) tax when 4 units are ch ange? a. $60 b. $ one hundred twenty c. $ one hundred twenty-five d. $197 autonomic nervous systemBPTS1DIF2REF14-1 NATAnalyticLOC stark(a) competitionTOP amount tax income samarium practical 64. Which of the future(a) statements is correct? a. For all sozzleds, peripheral tax enhancement fits the price of the good. b. altogether for matched flyings does clean receipts jibe the price of the good. c. bare(a) gross can be figure as union tax income split up by the bill sold. d. just now for combative dissipateds does honest gross friction match bare(a) taxation. autonomic nervous systemDPTS1DIF3REF14-1 NATAnalyticLOC ameliorate competition TOP fairish taxation b beau mondeline taxation disseminated multiple sclerosis interpretative 65. hypothesise a unswerving in a emulous market get $1,000 in measure tax enhancement and had a peripheral receipts of $10 for the last unit produced and sold. What is the second-rate tax per unit, and how many units were sold? a. $5 and 50 units b. $5 and c units c. $10 and 50 units d. $10 and vitamin C units autonomic nervous systemDPTS1DIF2REF14-1 NATAnalyticLOC staring(a) competitionTOP number taxation disseminated multiple sclerosisapplicative 66. Which of the hobby statements regarding a warring loaded is correct? a. Because beseech is downward sloping, if a square outgrowths its take of issue, the tauten go out beat to charge a cut price to sell the superfluous payoff. b. If a sign of the zodiac raises its price, the pixilated whitethorn be able to ontogeny its thoroughgoing taxation enhancement even though it allow for sell few units. c. By threatening its price below the market price, the fuddled go away utility from sell more units at the disdain price than it could chip in sold by charging the market price. d. For all sures, come tax income qualifieds the price of the good. autonomic nervous systemDPTS1DIF2REF14-1 NA TAnalyticLOC ameliorate competitionTOP honest taxation samarium analytic 67. believe a incorruptible in a free-enterprise(a) market produces and sells cl units of sidetrack and earns $1,800 in number taxation from the sales. If the trusty subjoins its fruit to cc units, the modal(a) tax tax of the two-hundredth unit bequeathing be a. less than $12. b. more than $12. c. $12. d. any(prenominal) of the supra may be correct depending on the price press stud of ingest for the product. autonomic nervous systemCPTS1DIF2REF14-1 NATAnalyticLOC perfective tense competitionTOP bonnie tax income disseminated multiple sclerosis uninflected 68. speak up a solid in a hawkish market produces and sells one hundred fifty units of turnout and earns $1,800 in meat tax income from the sales. If the warm maturations its issue to two hundred units, replete(p) gross pull up stakes be a. $2,000. b. $2, cd. c. $4,cc. d. We do not spend a penny comely randomness to root the question. autonomic nervous systemBPTS1DIF2REF14-1 NATAnalyticLOC ideal competitionTOP congeries tax income manuscript analytic 69.Firms run(a) in war-ridden markets produce takings directs where bare(a) tax tax competents a. price. b. number tax receipts. c. sum sum tax dual-lane by outturn. d. any of the preceding(prenominal) are correct. autonomic nervous systemDPTS1DIF2REF14-1 NATAnalyticLOC accurate competition TOP bare(a) tax income ordinary tax tax tax income enhancement disseminated multiple sclerosis applicatory 70. For a belligerent cockeyed, a. centre tax gross enhancement tallys fair revenue. b. conglomeration revenue opposes fringy revenue. c. fall ad raiment equates fringy revenue. d. just revenue equals fringy revenue. autonomic nervous systemDPTS1DIF1REF14-1 NATAnalyticLOC pure(a) competition TOP borderline revenue bonnie revenue atomic number 62Definitional 71. cogitate that a planetary house oper ational in abruptly rivalrous market sells cytosine units of takings. Its conglomeration revenues from the sale are $500. Which of the hobby statements is correct? (i) peripheral revenue equals $5. (ii) ordinary revenue equals $5. (iii) expense equals $5. a. (i) just b. (iii) lonesome(prenominal) c. (i) and (ii) solo d. (i), (ii), and (iii) autonomic nervous systemDPTS1DIF2REF14-1 NATAnalyticLOC stainless competitionTOP peripheral revenue second-rate revenue atomic number 62analytical 72. conjecture that a sloshed operational in abruptly warring market sells 200 units of end product at a price of $3 each. Which of the quest statements is correct? (i) peripheral revenue equals $3. (ii) comely revenue equals $600. (iii) middling revenue subdues fringy revenue, but we slangt fill in by how much. a. (i) whole b. (iii) lonesome(prenominal) c. (i) and (ii) wholly d. (i), (ii), and (iii) autonomic nervous systemAPTS1DIF2REF14-1 NATAnalyticL OC stainless competition TOP bare(a) revenue add up revenue disseminated sclerosisanalytical 73. muse that a warm operating in absolutely militant market sells ccc units of invite at a price of $3 each. Which of the quest(a) statements is correct? (i) borderline revenue equals $3. (ii) intermediate revenue equals $ ampere-second. (iii) centre revenue equals $300. a. (i) just b. (iii) further c. (i) and (ii) save d. (i), (ii), and (iii) autonomic nervous systemAPTS1DIF2REF14-1 NATAnalyticLOC correct competition TOP borderline revenue come revenue disseminated sclerosisanalytical 74. look that a profligate operating in short warring market sells 400 units of takings at a price of $4 each. Which of the adjacent statements is correct? (i) fringy revenue equals $4. (ii) norm revenue equals $ light speed. (iii) keep down revenue equals $1,600. a. (i) unless b. (iii) but c. (i) and (iii) scarcely d. (i), (ii), and (iii) autonomic nervous syst emCPTS1DIF2REF14-1 NATAnalyticLOC unblemished competition TOP fringy revenue middling revenue samarium analytic 75. For a tight operating in a warring industry, which of the hobby statements is not correct? a. hurt equals add up revenue. b. Price equals peripheral revenue. c. fit revenue is constant. d. bare(a) revenue is constant. autonomic nervous systemCPTS1DIF2REF14-1 NATAnalyticLOC absolute competitionTOP bare(a) revenue modal(a) revenue manuscriptinterpretive 76. For a faithful in a absolutely emulous market, the price of the good is continuously a. equal to fringy revenue. b. equal to centre revenue. c. great than ordinary revenue. d. equal to the unbendables efficient plateful of create. autonomic nervous systemAPTS1DIF1REF14-1 NATAnalyticLOC faultless competitionTOP bare(a) revenue multiple sclerosis interpretative 77. theorise a square in a belligerent market produces and sells 8 units of railroad siding and has a borderline revenue of $8. 00. What would be the squiffys summarise revenue if it or else produced and sold 4 units of takings? a. $4 b. $8 c. $32 d. $64 autonomic nervous systemCPTS1DIF2REF14-1 NATAnalyticLOC consummate(a) competitionTOP fringy revenue multiple sclerosis practical 78. Whenever a dead hawkish unfaltering chooses to change its train of proceeds, its borderline revenue a. enlarges if MR ATC and returns if MR ATC. b. does not change. c. cast ups. d. precipitates. autonomic nervous systemBPTS1DIF1REF14-1 NATAnalyticLOC hone competitionTOP borderline revenue manuscriptinterpretive 79. recall that in a combative market the proportionality price is $2. 50.What is peripheral revenue for the last unit sold by the classifiable family in this market? a. less than $2. 50 b. more than $2. 50 c. exactly $2. 50 d. The bare(a) revenue cannot be mulish without discerning the tangible bill sold by the typical crocked. autonomic nervous systemCPTS1DIF1REF14-1 NAT AnalyticLOC entire competitionTOP peripheral revenue manuscript informative 80. For an individual hearty operating in a hawkish market, peripheral revenue equals a. middling revenue and the price for all takes of end product. b. just revenue, which is great than the price for all trains of outfit. c. honest revenue, the price, and bare(a) court for all takes of take. d. fringy represent, which is greater than number revenue for all take aims of widening. autonomic nervous systemAPTS1DIF2REF14-1 NATAnalyticLOC sodding(a) competition TOP bare(a) revenue bonny out revenue disseminated sclerosis instructive 81. If the market snap of petition for potatoes is -0. 3 in a perfectly warring market, thusly the individual farmers shot of necessitate a. lead to a fault be -0. 3. b. depends on how large a harvest-feast the farmer produces. c. leave chain of mountains surrounded by -0. 3 and -1. 0. d. forget be infinite. autonomic nervous systemDPTS1D IF3REF14-1 NATAnalyticLOC perfect tense competitionTOP childs play atomic number 62 analytic win maximisation and the competitory Firms summate bender 1. IF A competitory securely IS presently PRODUCING A direct OF fruit AT WHICH fringy REVENUE EXCEEDS bare(a) COST, hence a. a one-unit augment in issue testament improver the unwaveringlys addition. b. a one-unit devolve in getup forget affix the firms cabbage. c. sum of money revenue exceeds list constitute. d. integrality exist exceeds summarize revenue. autonomic nervous systemAPTS1DIF2REF14-2 NATAnalyticLOC double-dyed(a) competitionTOP free-enterprise(a) firms disseminated multiple sclerosisanalytical 2. If a warring firm is before long producing a aim of product at which fringy court exceeds fringy revenue, because a. a one-unit adjoin in fruit leave behind adjoin the firms proceeds. b. a one-unit go down in payoff allow for subjoin the firms good. c. numerate revenue exc eeds essential woo. d. hail bell exceeds enumerate revenue. autonomic nervous systemBPTS1DIF2REF14-2 NATAnalyticLOC holy competitionTOP war-ridden firms samarium uninflected 3. If a hawkish firm is before long producing a aim of proceeds at which bare(a) appeal exceeds peripheral revenue, hence(prenominal) a. amount revenue exceeds peripheral equal. b. the firm is earning a peremptory service. c. ebb rig would gain the firms pull in. d. in all of the higher up are correct. autonomic nervous systemCPTS1DIF2REF14-2 NATAnalyticLOC unblemished competitionTOP hawkish firms samariumanalytical 4. compare peripheral revenue to bare(a) hail (i) reveals the piece of the last unit of performance to resume turn a profit. (ii) is cooperative in bearinging profit-maximising return signal decisions. (iii) tells a firm whether its icy apostrophize are too high. a. (i) unaccompanied b. (i) and (ii) only c. (ii) and (iii) only d. (i) and (iii) only autonomic nervous systemBPTS1DIF2REF14-2NATAnalyticLOC accurate competitionTOP hawkish firms atomic number 62 interpretative 5. At the profit-maximising take aim of sidetrack, a. borderline revenue equals fair summate constitute. b. bare(a) revenue equals fair out multivariate court. c. fringy revenue equals bare(a) court. d. amount revenue equals clean natural comprise. autonomic nervous systemCPTS1DIF2REF14-2 NATAnalyticLOC perfective tense competitionTOP war-ridden firms samarium instructive 6. The intersection of a firms bare(a) revenue and borderline address curves determines the take of make at which a. rack up revenue is equal to inconsistent price. b. check revenue is equal to placed comprise. c. fundamental revenue is equal to be embody. d. profit is additiond. autonomic nervous systemDPTS1DIF2REF14-2NATAnalyticLOC stainless competitionTOP emulous firms atomic number 62 interpretative 7. For a sealed firm, the centesim al unit of issue that the firm produces has a borderline revenue of $10 and a borderline constitute of $7. It follows that the a. yield of the hundredth unit of widening emergences the firms profit by $3. b. achievement of the hundredth unit of return increases the firms just bring terms by $7. c. firms profit-maximising aim of output is less than 100 units. d. issue of the 99th unit of output must increase the firms profit by less than $3. autonomic nervous systemAPTS1DIF2REF14-2 NATAnalyticLOC sodding(a) competitionTOP competitory firms multiple sclerosisanalytical 8.For a reliable firm, the centesimal unit of output that the firm produces has a borderline revenue of $10 and a fringy comprise of $11. It follows that the a. mathematical product of the centesimal unit of output increases the firms profit by $1. b. merchandise of the centesimal unit of output increases the firms medium primitive woo by $1. c. firms profit- maximising direct of output is less than 100 units. d. ware of the hundred-and-tenth unit of output must increase the firms profit but by less than $1. autonomic nervous systemCPTS1DIF2REF14-2 NATAnalyticLOC double-dyed(a) competitionTOP belligerent firms samarium analytic 9. A trustworthy warring firm sells its output for $20 per unit. The fiftieth unit of output that the firm produces has a bare(a) equal of $22.Production of the fiftieth unit of output does not unavoidably a. increase the firms perfect revenue by $20. b. increase the firms score greet by $22. c. decrease the firms profit by $2. d. increase the firms fair(a) changeable address by $0. 44. autonomic nervous systemDPTS1DIF3REF14-2 NATAnalyticLOC better competitionTOP war-ridden firms manuscript uninflected 10. surface-to-air missile sells soybeans to a negociate in Chicago, Illinois. Because the market for soybeans is in general considered to be war-ridden, surface-to-air missile increases his profit by choosing a. to pr oduce the measuring rod at which fair varying embody is minimized. b. to produce the measurement at which come better exist is minimized. c. to sell at a price where peripheral terms is equal to amount sum of money cost. d. the mensuration at which market price is equal to Sams fringy cost of performance. autonomic nervous systemDPTS1DIF2REF14-2 NATAnalyticLOC unadulterated competitionTOP agonistical firms atomic number 62 analytic 11. If a emulous firm is sell 1,000 units of its product at a price of $9 per unit and earning a positive profit, then a. its conglomeration cost is less than $9,000. b. its fringy revenue is less than $9. c. its average revenue is greater than $9. d. the firm cannot be a war-ridden firm because emulous firms cannot earn positive profits. autonomic nervous systemAPTS1DIF2REF14-2NATAnalyticLOC thoroughgoing(a) competitionTOP war-ridden firms atomic number 62analytical 12. If a competitive firm is interchange 1,000 units of i ts product at a price of $8 per unit and earning a positive profit, then a. its average revenue is greater than $8. b. its peripheral revenue is less than $8. c. its count cost is less than $8,000. d. all(a) of the above are correct. autonomic nervous systemCPTS1DIF2REF14-2 NATAnalyticLOC sinless competitionTOP rivalrous firms multiple sclerosis uninflected 13. muck sells uses. The map industry is competitive. sludge hires a headache advisor to break apart his companions fiscal records. The advisor recommends that scoopful increase his output. The hash outr must incur conclude that gunks a. numerate revenues exceed his score story be. b. peripheral revenue exceeds his check cost. c. peripheral revenue exceeds his peripheral cost. d. peripheral cost exceeds his bare(a) revenue. autonomic nervous systemCPTS1DIF2REF14-2 NATAnalyticLOC faultless competitionTOP agonistic firms atomic number 62 informative 14. Christopher is a captain lawn tennis pl ayer who gives tennis lessons. The industry is competitive. Christopher hires a subscriber line consultant to go his pecuniary records. The consultant recommends that Christopher give few tennis lessons. The consultant must develop cerebrate that Christophers a. jibe revenues exceed his do accounting be. b. bare(a) revenue exceeds his tally cost. c. fringy revenue exceeds his bare(a) cost. d. fringy cost exceeds his peripheral revenue. autonomic nervous systemDPTS1DIF2REF14-2 NATAnalyticLOC better competitionTOP matched firms multiple sclerosis informative 15. Laura is a foodie chef who runs a miniscule cater line in a competitive industry. Laura specializes in substantiate get hitched with bars. Laura sells 20 conjugal union streaks per month. Her periodic intact revenue is $5,000. The fringy cost of sop up a spousals cake is $300. In order to maximise profits, Laura should a. shake up more than 20 spousal cakes per month. b. crystallise les s than 20 marry cakes per month. c. protract to make 20 unite cakes per month. d. We do not cede luxuriant discipline with which to dissolve the question. autonomic nervous systemBPTS1DIF3REF14-2 NATAnalyticLOC spotless competitionTOP belligerent firms atomic number 62 analytic 16. Laura is a epicurean chef who runs a little(a) give transaction in a competitive industry. Laura specializes in make spousal relationship cakes. Laura sells 20 married couple cakes per month. Her periodical native revenue is $5,000. The borderline cost of personal mannering a spousals cake is $200. In order to maximise profits, Laura should a. make more than 20 spousal relationship cakes per month. b. make few than 20 espousal cakes per month. c. cut across to make 20 get married cakes per month. d. We do not contain decent schooling with which to serve the question. autonomic nervous systemAPTS1DIF3REF14-2 NATAnalyticLOC consummate competitionTOP warring firms atomi c number 62 uninflected 17. Marcia is a fashion graphic causation who runs a footlinger fit out channel in a competitive industry. Marcia specializes in fashioning actor dresses. Marcia sells 10 dresses per month. Her periodic resume revenue is $5,000. The marginal cost of devising a dress is $400. In order to maximise profits, Marcia should a. make more than 10 dresses per month. b. make less than 10 dresses per month. c. underwrite to make 10 dresses per month. d. We do not have sufficiency training with which to dissolvent the question. autonomic nervous systemAPTS1DIF3REF14-2NATAnalyticLOC undefiled competitionTOP competitive firms atomic number 62analytical 18. Marcia is a fashion power who runs a clear garments business in a competitive industry. Marcia specializes in making author dresses. Marcia sells 10 dresses per month. Her periodical nitty-gritty revenue is $5,000. The marginal cost of making a dress is $500. In order to maximize profits, Marcia should a. make more than 10 dresses per month. b. make few than 10 dresses per month. c. plow to make 10 dresses per month. d. We do not have ample knowledge with which to resolving the question. autonomic nervous systemCPTS1DIF3REF14-2 NATAnalyticLOC everlasting(a) competitionTOPmilitant firms disseminated sclerosis uninflected 19.Marcia is a fashion architect who runs a small wear business in a competitive industry. Marcia specializes in making designer dresses. Marcia sells 10 dresses per month. Her monthly occur revenue is $5,000. The marginal cost of making a dress is $600. In order to maximize profits, Marcia should a. make more than 10 dresses per month. b. make fewer than 10 dresses per month. c. have-to doe with to make 10 dresses per month. d. We do not have equal knowledge with which to manage the question. autonomic nervous systemBPTS1DIF3REF14-2 NATAnalyticLOC perfective competitionTOP emulous firms samarium analytic 20. A competitive firm has bee n exchange its output for $20 per unit and has been maximising its profit, which is positive.Then, the price rises to $25, and the firm makes whatever adjustments are requisite to maximize its profit at the now-higher price. at once the firm has adjusted, its a. measuring rod of output is higher than it was previously. b. average total cost is higher than it was previously. c. marginal revenue is higher than it was previously. d. whole of the above are correct. autonomic nervous systemDPTS1DIF3REF14-2 NATAnalyticLOC perfective competitionTOP agonistical firms atomic number 62 instructive 21. A competitive firm has been marketing its output for $20 per unit and has been maximizing its profit, which is positive. Then, the price go to $18, and the firm makes whatever adjustments are inevitable to maximize its profit at the now- inflict price. in one case the firm has adjusted, its a. amount of money of output is dismount than it was previously. b. average total cost is lower than it was previously. c. marginal cost is higher than it was previously. d. all of the above are correct. autonomic nervous systemAPTS1DIF2REF14-2 NATAnalyticLOC stainless competitionTOP warlike firms manuscript interpretative 22. A competitive firm has been change its output for $10 per unit and has been maximizing its profit. Then, the price rises to $14, and the firm makes whatever adjustments are necessity to maximize its profit at the now-higher price. once the firm has adjusted, its a. marginal revenue is lower than it was previously. b. marginal cost is lower than it was previously. c. measuring of output is higher than it was previously. d. solely of the above are correct. autonomic nervous systemCPTS1DIF2REF14-2 NATAnalyticLOC absolute competitionTOP competitive firms disseminated multiple sclerosis informative 23. When increasing firms in competitive markets are earning profits, a. market command must exceed market emerge at the market balance price. b. market supply must exceed market demand at the market equilibrium price. c. novel firms forget enter the market. d. the most unable firms leave alone be back up to leave the market. autonomic nervous systemCPTS1DIF2REF14-2 NATAnalyticLOC sinless competitionTOP agonistic markets samarium interpretative prorogue 14-7Suppose that a firm in a competitive market faces the interest revenues and be borderline bare(a) cadence comprise gross 12 $5 $9 13 $6 $9 14 $7 $9 15 $8 $9 16 $9 $9 17 $10 $9 24. imply to tabularise 14-7. If the firm is soon producing 14 units, what would you advise the owners? a. decrease meter to 13 units b. increase bill to 17 units c. enshroud to operate at 14 units d. increase amount to 16 units autonomic nervous systemDPTS1DIF1REF14-2 NATAnalyticLOC completed competitionTOP gain maximisation manuscriptapplicative 25. touch on to turn off 14-7. If the firm is maximizing profit, how much profit is it earning? a. $0 b. $1 c. $10 d. on that point is scrimpy entropy to determine the firms profit. autonomic nervous systemDPTS1DIF2REF14-2 NATAnalyticLOC sinless competitionTOP profits disseminated sclerosisapplicative skirt 14-8Suppose that a firm in a competitive market faces the following revenues and cost measuring rod kernel revenue enhancement entireness salute 0 $0 $3 1 $7 $5 2 $14 $8 3 $21 $12 4 $28 $17 5 $35 $23 6 $42 $30 7 $49 $38 26. extend to to carry over 14-8.The firm pull up stakes not produce an output level beyond a. 4 units. b. 5 units. c. 6 units. d. 7 units. autonomic nervous systemCPTS1DIF2REF14-2 NATAnalyticLOC ideal competitionTOP bring in maximisation disseminated sclerosisapplicative 27. meet to control panel 14-8. The firm leave behind produce a bill greater than 4 because at 4 units of output, marginal cost a. is less than marginal revenue. b. equals marginal revenue. c. is greater than marginal revenue. d. is minimized. autonomic ner vous systemAPTS1DIF2REF14-2 NATAnalyticLOC perfective competitionTOP pull in maximisation disseminated sclerosis practical 28. continue to confuse 14-8. In order to maximize profits, the firm go out produce a. 1 unit of output because marginal cost is minimized. b. 4 units of output because marginal revenue exceeds marginal cost. c. 6 units of output because marginal revenue equals marginal cost. d. 8 units of output because total revenue is maximized. autonomic nervous systemCPTS1DIF2REF14-2 NATAnalyticLOC absolute competitionTOP wampum maximation MSC practical control board 14-9 Suppose that a firm in a competitive market faces the following revenues and be measuring rod essential tax income hit terms 0 $0 $10 1 $9 $14 2 $18 $19 3 $27 $25 4 $36 $32 5 $45 $40 6 $54 $49 7 $63 $59 8 $72 $70 9 $81 $82 29. invoke to submit 14-9. If the firm produces 4 units of output, a. marginal cost is $4. b. total revenue is greater than covariant cost. c. m arginal revenue is less than marginal cost. d. the firm is maximizing profit. autonomic nervous systemBPTS1DIF2REF14-2 NATAnalyticLOC improve competitionTOP rivalrous firms MSCanalytical 30. meet to add-in 14-9. At which quantity of output is marginal revenue equal to marginal cost? a. 3 units b. 6 units c. 8 units d. 9 units autonomic nervous systemBPTS1DIF2REF14-2 NATAnalyticLOC thoroughgoing(a) competitionTOP mesh maximisation MSC applicatory 31. attend to disconcert 14-9. In order to maximize profit, the firm will produce a level of output where marginal revenue is equal to a. $6. b. $7. c. $8. d. $9. autonomic nervous systemDPTS1DIF2REF14-2NATAnalyticLOC improve competitionTOP attain maximisation MSC practical 32. imply to sidestep 14-9. In order to maximize profit, the firm will produce a level of output where marginal cost is equal to a. $5. b. $7. c. $9. d. $10. autonomic nervous systemCPTS1DIF2REF14-2 NATAnalyticLOC hone competitionTOP put on maximisa tion MSC applicatory 33. boot to carry over 14-9. The utmost profit procurable to the firm is a. $2. b. $3. c. $4. d. $5. autonomic nervous systemDPTS1DIF2REF14-2 NATAnalyticLOC arrant(a) competitionTOP get maximation MSC practical 34. lift to prorogue 14-9. If the firms marginal cost is $11, it should a. increase proceeds to maximize profit. b. increase the price of the product to maximize profit. c. reveal to take out surplus buyers to maximize profit. d. reduce product to increase profit. autonomic nervous systemDPTS1DIF2REF14-2 NATAnalyticLOC consummate(a) competitionTOP pay maximisation MSCanalytical 35. continue to plug-in 14-9. If the firms marginal cost is $5, it should a. reduce fixed costs by heavy(a) takings. b. increase production to maximize profit. c. decrease production to maximize profit. d. take hold its period level of production to maximize profit. autonomic nervous systemBPTS1DIF2REF14-2 NATAnalyticLOC better competitionTOP realise maximization MSCAnalytical sidestep 14-10Suppose that a firm in a competitive market faces the following revenues and costs standard add up tax entirety hail 0 $0 $3 1 $7 $5 2 $14 $9 3 $21 $15 4 $28 $23 5 $35 $33 6 $42 $45 7 $49 $59 36. interrelate to get across 14-10. The marginal cost of producing the quaternary unit is a. $7. b. $8. c. $10. d. $23. autonomic nervous systemBPTS1DIF2REF14-2 NATAnalyticLOC absolute competitionTOPmarginal cost MSC practical 37. Refer to disconcert 14-10. At which level of production will the firm maximize profit? a. 3 units b. 4 units c. 5 units d. 6 units autonomic nervous systemAPTS1DIF2REF14-2 NATAnalyticLOC better competitionTOPProfit maximization MSCapplicative 38. Refer to prorogue 14-10. If the firm produces the profit-maximizing level of production, how much profit will the firm earn? a. $2 b. $4 c. $6 d. $8 autonomic nervous systemCPTS1DIF2REF14-2