Completed quickly and followed instructions given. Grammar, spelling, etc. was all good as well. Thank you so much! Will hire in the future.
******** **
1 ** *** ****** breakeven ***** *** ********** ******* selling ***** *** **** *** ******** **** *** **** ** ******** ** ****
Answer
* variable margin *** unit
* ******** **** ******
* ************ margin *** *****
* ****** margin *** *****
******** **
******** **** ********* ******* of ******** cost-output ************* lends ******* ** the: *******
* ********* of * ********** ***** ***** cost function
* ********** **** marginal costs ***** ******** then ********* increase over *** ****** ********* ***** ** the *****
* ********** **** ***** costs ******** quadratically **** the ****** ** ****** *********
* hypothesis that total costs ******** ******** over **** ************ ***** of ****** examined
******** **
****** **** ********** collects ** *** ******* ** *** ******** ** *** ********* ***** lunch diner Its variable **** per ******** ******** ** and its ****** ***** cost ** $40000 ** George **** ***** ** **** * profit ** $20000 *** year ** *** diner it **** have ** serve__________ ********* *** *****
Answer
* ***** customers
* ***** **********
* ***** **********
d ***** **********
* ***** **********
******** 4
Which of *** following ** not ** ********** ** the linear ********* *******
Answer
a ******** ******* ***** *** *****
* ********** ******** **** per *****
c ***** costs are *********** ** *** ****** ******
d * ****** ******* *** a ******** *** ** ********* is ***** ******** *** *****
* *******
Question **
* **** total cost ******** ******* **** ******** costs **** ** ****** ** **********
*******
a linear; ******** *********
* ********** *** constant
* ****** increase linearly
d ****** *** constant
Question **
************* ** a ******** cost function:
Answer
* all ****** *** fixed
b *** ****** *** ********** *********
* some ****** are ****** ******
******** *** ***** *** ****** ******** ** ***** proportions
******** **
**** ******** ********* ******* has become * *********** ****** The ******* **** per call ** **** * ****** *** it’s ********* The likely ****** *** the ********* ***** *** long ******** ******* ****
Answer
* ************ pressure to ***** *** ******
* ******* ****** for **** ******** service
* ***** into **** ******** pushes ****** *****
* Lower price *** a barrel ** ***** oil
* ********* **** of ********* long ******** ********
Question **
*********** ******** *** ** *** ********* ****** *****
*******
******** effects ** ********** ********
* incomplete information as ** *** **** ** competitor
c ****** *************
dunverifiable *******
* accidents due ** weather hazards
******** 9
* firm in pure *********** ***** **** **** ******
*******
a ***** ** less than ******* ***** *****
* ***** is **** than ******* ***** *****
* price ** **** **** marginal cost
d ***** ** **** **** average variable cost
Question ***
** “experience ********** ** *** ******
Answer
a **** an ****** *** ****
* *** ************ ******* **** **********
* *** ** ******* *********** simply ** ******** or ********
* Improves **** *** like * **** *****
******** ***
*** ******** ** asymmetric *********** ******** ***** ********** because:
*******
* *** party to the exchange ********* ********* information **** another
* *** ***** *** more information than ********
c *** party knows ********
* *** ***** ****** ************* verify *** information ** ********
* *********** is scarce
******** ***
A ************ ********** ****
*******
* One **** ******* ** *** *** product behaves **** time
* * ******* ***** ******* ** **** found *** over **** by ******* *** ******* ** ***
c **** a ***** **** *** ** examined for ******
* **** a used *** ***** ** ** **** ** determine *** inherent ********
Question 13
*** ***** *** **** cars is **** ***** *** price ** new **** ** *** same ******* ******* **** ** ** ******* of:
*******
* *** ****** of ********* Leverage
* * Lemon’s Market
* Redeployment *******
* ******** ************
* The ************ *****
******** ***
** *** electric power ******** *********** ********* **** ********** **** ****** for *********** ******** with ***** ********** ***** *** ******** to ***** discrimination large industrial users generally *** ******* **** ******
Answer
a similar similar
* ******* ******
* elastic *******
d ********* ******
* ********* *******
******** ***
*** ******** ** telephone ********* ** charging ***** ************* rates ** ***** **** ****** *** *** ** ** ******* ****
*******
ainverted ***** ********
************** price ***************
cpeak-load pricing
* ************ ***** ***************
* **** ** the ******
******** 16
In ******* ******** ** continuously ******** due to ********* in ************ ** ** ********** ***** ***** ** found ** ********** ***** **** increasing returns to ***** ** ***** **** *** ***** ** marginal **** ******
*******
* ***** ***** ***** average cost
* ***** ***** exceed average *****
* ***** ***** ** ***** ******* cost
d ***** would ** at *** profit ********** ***** *** natural monopoly
******** ***
********* cost ************
*******
a have ****** ****** ** *******
* **** ****** ****** demand curves
c **** ************ total costs
* **** diseconomies of ******
e **** ******** **** curves ***** ***** ******* **** ******
Question ***
The ****** ***** facing *** firm ** ____ ** *** **** ** *** ******** ****** ******
Answer
* pure ************
b monopolistic competition
c **********
d **** monopoly
Question ***
** *** following ***** is *** ** ******** rationale for public ******* regulation?
*******
* ********** process ********** increasing ******* ** ******
* ******** cost industry
c avoidance ** *********** ** facilities
d ********** ** ********* **** ***** ***************
******** ***
Even ideal ******* **** ** ** ******** ********
*******
* ***** typically ****** *********** to ********* ** *********** ******* ** leads ** more ********
* collusion ***** ** ****** ******** ******* ******* in *** *********
* oligopolistic ******** are extremely risk *******
* ***** can ******* ** ******** ******* **** **** **** ******** *** other ******
******** ***
**************** *********** ** ************* ***** ************* ***** is ** ******* ** *****
*******
* ******* rivalry
* * formal collusive **********
* ******** ** ***** ************
* * *******
Question ***
**** industries **** **** rigid prices ** ***** ********** ** tend ***
*******
* **** **** ****** ** also ***** **** *** ******** cycle
b find **** ****** ****** ******* **** *** business ******
* Find the ********** in these industries is ***** ****** **** *** ******** ******
* **** **** *** **** of ****** ** ******** ** **** ******
Question 23
**** **** is characterized ** a ********** ***** number of firms ********* a product
Answer
* monopoly
* **********
c cooperative
* **********
******** ***
* ****** ** * ********* where ***** ** *** *********
Answer
* **** ** ********* ** ******** *******
b ***** ** ******* identical *********
* obey *** ***** of ******** **** ***** leadership
d ********** *** **** ** * ****** ****** curve
* **** a ********** ***** leader
******** ***
***** ** *** ********* ** ** ******* of ** ************* market ***********
Answer
a public **********
* *** transport *********
* ****** retailers
* ***** *******
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ECO 550 Final Exam.docx
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