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Dashboard / My courses / ECS2601-23-S1 / Welcome Message / Assessment 5
Started on Friday, 2 June 2023, 9:40 AM
State Finished
Completed on Friday, 2 June 2023, 2:52 PM
Time taken 5 hours 11 mins
Marks 24.00/40.00
Grade 60.00 out of 100.00
Question 1
Complete
Mark 2.00 out of 2.00
Which is NOT true of state-owned and managed natural monopolies?
a. X-inefficiency is common because the incentives for profit are missing.
b. The wise state government will set price equal to average total cost (ATC) so that losses will not have to be borne by the taxpayer.
c. Bureaucrats frequently maximise the operating budgets of their departments rather than function with a profit-maximisation
objective.
d. The state is better able to price at marginal cost (MC) because it can use its taxing power to cover the losses that result from the MC
pricing.
, Question 2
Complete
Mark 3.00 out of 3.00
MENU
Use the following graph to answer the question.
Dashboard / My courses / ECS2601-23-S1 / Welcome Message / Assessment 5
Producer surplus in a monopoly is represent by ...
a. A + B + D
b. D + B + C + E
c. A + B + C + D + E
d. B + D
Dashboard / My courses / ECS2601-23-S1 / Welcome Message / Assessment 5
Started on Friday, 2 June 2023, 9:40 AM
State Finished
Completed on Friday, 2 June 2023, 2:52 PM
Time taken 5 hours 11 mins
Marks 24.00/40.00
Grade 60.00 out of 100.00
Question 1
Complete
Mark 2.00 out of 2.00
Which is NOT true of state-owned and managed natural monopolies?
a. X-inefficiency is common because the incentives for profit are missing.
b. The wise state government will set price equal to average total cost (ATC) so that losses will not have to be borne by the taxpayer.
c. Bureaucrats frequently maximise the operating budgets of their departments rather than function with a profit-maximisation
objective.
d. The state is better able to price at marginal cost (MC) because it can use its taxing power to cover the losses that result from the MC
pricing.
, Question 2
Complete
Mark 3.00 out of 3.00
MENU
Use the following graph to answer the question.
Dashboard / My courses / ECS2601-23-S1 / Welcome Message / Assessment 5
Producer surplus in a monopoly is represent by ...
a. A + B + D
b. D + B + C + E
c. A + B + C + D + E
d. B + D
