ECON 1580 Graded Quiz Unit 6 | Score 95.24/100 | University of the People

Started on Wednesday, 27 December 2023, 2:40 AM
State Finished
Completed on Wednesday, 27 December 2023, 3:11 AM
Time taken 31 mins 11 secs
Marks 20.00/21.00
Grade 95.24 out of 100.00


Question 1
Incorrect
Mark 0.00 out of 1.00




Monopolistic competition is an industry characterized by:




a horizontal demand curve.
a small number of rms.




Question 2
Correct
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is a realistic model of many di erent markets.

, Question 3
Correct
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Economic pro ts are guaranteed for:



a monopoly, but not a perfectly competitive rm.
a perfectly competitive rm, but not a monopoly.
both a monopoly and a perfectly competitive rm.
neither a monopoly nor a perfectly competitive rm.




Question 4
Correct
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Which one of the following is an example of a frictionally unemployed individual?

Select one:




Question 5
Correct
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The XYZ Company is a pro t-maximizing rm with a monopoly in the production of pennants. The rm sells its pennants for $10 each.
We can conclude that the XYZ Company is producing a level of output at which: