BUSA 201 HW 7 2024/2025 Exam
Questions and Detailed Answers | Get it
100% Correct Answers
The largest cattle rancher in a given region will be unable to have
a__________sufficient numbers of smaller cattle ranchers provide sources
of competition. - 🧠ANSWER ✔✔monopoly
If a seller can sell 5 units at $8 each and can sell a 6th unit separately for
$7 (the people willing to pay $8 don't learn about the reduced price), the
marginal revenue from selling the 6th unit is - 🧠ANSWER ✔✔$7
A monopolist is able to maximize its profits by - 🧠ANSWER ✔✔producing
output where MR = MC and charging a price along the demand curve.
For a pure monopoly to exist, - 🧠ANSWER ✔✔there is a single seller in a
particular industry
When marginal revenue for a seller is more than marginal cost, the seller is
- 🧠ANSWER ✔✔not maximizing net revenue.
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY 1
STATEMENT. ALL RIGHTS RESERVED
, If a commercial airline starts offering maxi-saver fares at huge discounts to
passengers who purchase tickets at least 30 days in advance and agree to
stay over a Saturday night, what is the most likely effect upon first-class
passenger service? - 🧠ANSWER ✔✔First-class fares will rise somewhat to
compensate for the loss on other fares.
If grocery stores in high-crime areas charge higher prices than stores
elsewhere, it is because - 🧠ANSWER ✔✔there is less competition between
stores in high-crime areas.
Following the assumption that firms maximize profits, how will the price and
output policy of an unregulated monopolist compare with ideal market
efficiency? - 🧠ANSWER ✔✔output will be too small and its price too high.
Following the assumption that firms maximize profits, how will the price and
output policy of an unregulated monopolist compare with ideal market
efficiency? - 🧠ANSWER ✔✔output will be too small and its price too high.
If a seller can sell 5 units at $8 each but can sell 6 units only by lowering
the price to $7 (and must sell all units at the same price), the marginal
revenue from selling the 6th unit is - 🧠ANSWER ✔✔$2.
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY 2
STATEMENT. ALL RIGHTS RESERVED
Questions and Detailed Answers | Get it
100% Correct Answers
The largest cattle rancher in a given region will be unable to have
a__________sufficient numbers of smaller cattle ranchers provide sources
of competition. - 🧠ANSWER ✔✔monopoly
If a seller can sell 5 units at $8 each and can sell a 6th unit separately for
$7 (the people willing to pay $8 don't learn about the reduced price), the
marginal revenue from selling the 6th unit is - 🧠ANSWER ✔✔$7
A monopolist is able to maximize its profits by - 🧠ANSWER ✔✔producing
output where MR = MC and charging a price along the demand curve.
For a pure monopoly to exist, - 🧠ANSWER ✔✔there is a single seller in a
particular industry
When marginal revenue for a seller is more than marginal cost, the seller is
- 🧠ANSWER ✔✔not maximizing net revenue.
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY 1
STATEMENT. ALL RIGHTS RESERVED
, If a commercial airline starts offering maxi-saver fares at huge discounts to
passengers who purchase tickets at least 30 days in advance and agree to
stay over a Saturday night, what is the most likely effect upon first-class
passenger service? - 🧠ANSWER ✔✔First-class fares will rise somewhat to
compensate for the loss on other fares.
If grocery stores in high-crime areas charge higher prices than stores
elsewhere, it is because - 🧠ANSWER ✔✔there is less competition between
stores in high-crime areas.
Following the assumption that firms maximize profits, how will the price and
output policy of an unregulated monopolist compare with ideal market
efficiency? - 🧠ANSWER ✔✔output will be too small and its price too high.
Following the assumption that firms maximize profits, how will the price and
output policy of an unregulated monopolist compare with ideal market
efficiency? - 🧠ANSWER ✔✔output will be too small and its price too high.
If a seller can sell 5 units at $8 each but can sell 6 units only by lowering
the price to $7 (and must sell all units at the same price), the marginal
revenue from selling the 6th unit is - 🧠ANSWER ✔✔$2.
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY 2
STATEMENT. ALL RIGHTS RESERVED
