Econ 201 quiz 4 Study guides, Class notes & Summaries
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American Military University ECON 201 ECON201 WEEK 7 Quiz 100CORRECT
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American Military University ECON 201 ECON201 WEEK 7 Quiz 
100% CORRECT 
Question 1 
Monopolistic competition is an industry characterized by a: 
• 
A. small number of firms producing identical products, with barriers to entry for firms. 
• 
B. small number of firms producing similar products, with relatively easy entry for firms. 
• 
C. large number of firms producing similar products, with relatively easy entry for firms. 
• 
D. large number of firms producing identical products, with...
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ECON 201 QUIZ 4 - Questions and Answers
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ECON 201 QUIZ 4 - Questions and Answers
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American Military University ECON 201 / ECON201 Week 6 Quiz
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ECON 201 Week 6 Quiz 
 
 
 
 
 
Question 2 of 17 
 
An industry that contains a firm that is the only producer of a good or service for which there are no close substitutes and for which entry by potential rivals is prohibitively difficult is: 
 
 
• 
 
A.	a duopoly. 
 
•	 
 
B.	a monopoly. 
 
• 
 
C.	an oligopoly. 
 
• 
 
D.	perfect competition. 
 
 
 
Question 3 of 17 
 
Which of the following is true in a perfectly competitive market? 
 
 
•	 
 
A.	One unit of a good or service cann...
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American Military University ECON 201 / ECON201 - Midterm - Quiz 4
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ECON 201 – Midterm 
 
Question 1 of 28 
Economics is the study of: 
 
A.	increasing the level of productive resources so there is maximum output in society. 
 
B.	increasing the level of productive resources so there is a minimum level of income. 
 
C.	how people, institutions, and society make choices under conditions of scarcity. 
 
D.	the efficient use of scarce resources paid for at the minimum level of cost to consumers and businesses. 
 
 
Question 2 of 28 
Which of the following is not ...
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American Military University ECON 201 ECON201 WEEK 7 Quiz 100% CORRECT
- Exam (elaborations) • 10 pages • 2023
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American Military University ECON 201 ECON201 WEEK 7 Quiz 
100% CORRECT 
Question 1 
Monopolistic competition is an industry characterized by a: 
• 
A. small number of firms producing identical products, with barriers to entry for firms. 
• 
B. small number of firms producing similar products, with relatively easy entry for firms. 
• 
C. large number of firms producing similar products, with relatively easy entry for firms. 
• 
D. large number of firms producing identical products, with...
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ECON 201 QUIZ 4
- Exam (elaborations) • 3 pages • 2022
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this market, the equilibrium price is 
$25 
 
 
 
 
 
 
 
per box, and the equilibrium quantity of oranges is 450 
 
 
 
 
 
 
 
million boxes. 
 
For each price listed in the following table, determine the quantity of oranges demanded, the quantity of oranges supplied, and the direction of pressure exerted on prices in the absence of any price controls. 
Price	Quantity Demanded	Quantity Supplied	Pressure on Prices 
(Dollars per box)	(Millions of boxes)	(Millions of boxes) 
530	270	Upward 
15 
...
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Exam APUS ECON 201 WEEK 1 QUESTIONS WITH CORRECT ANSWERS VERIFIED AND GRADED A+
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Exam 
APUS ECON 201 WEEK 1 QUESTIONS WITH CORRECT ANSWERS VERIFIED AND GRADED A+ 
Second Midterm 
Economics 201 
Spring Quarter 2007 
Mark Witte 
Northwestern University 
Do not turn this exam over or begin working until you are told to. 
You should keep the test questions. 
Only hand in the answer sheet. 
We will post scores and grades on Blackboard as soon as we can. Tests will be returned in 
TA sections. There will be no quiz this week, but the TAs will cover important material. 
Put your na...
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American Military University ECON 201 / ECON201 Quiz 3
- Exam (elaborations) • 6 pages • 2022
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ECON 201 – Quiz 3 
 
Question 1 of 16 
Demand is price inelastic if: 
 
A.	the price of the good responds slightly to a quantity change. 
 
B.	the demand curve shifts very little when a demand shifter changes. 
 
C.	the percentage change in quantity demanded is relatively small in response to a relatively large percentage change in price. 
 
D.	all of the above are true. 
 
 
Question 2 of 16 
If the absolute value of price elasticity is greater than 1, this means the demand curve in that regi...
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American Military University ECON 201 ECON201 WEEK 7 Exam Questions Quiz 100% CORRECT
- Exam (elaborations) • 10 pages • 2023
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American Military University ECON 201 ECON201 WEEK 7 Exam Questions Quiz 
100% CORRECT 
 
 
Question 1 
Monopolistic competition is an industry characterized by a: 
 
 
 
 
• 
 
A. small number of firms producing identical products, with barriers to entry for firms. 
 
 
 
• 
 
B. small number of firms producing similar products, with relatively easy entry for firms. 
 
 
 
• 
 
C. large number of firms producing similar products, with relatively easy entry for firms. 
 
 
 
• 
 
D. ...
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American Military University ECON 201 ECON201 WEEK 5 Quiz
- Exam (elaborations) • 15 pages • 2023
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