33) a monopolist engages in price discrimination? A) by charging a higher price to consumer's whose demand is more inelastic B) by charging the same price to all consumers C) by charging a lower price when marginal cost is higher D) by charging a lower price to consumers whose demand is more inelastic 33) when a monopolist sells the same product at different prices and the prices are related to cost differences we have? A) price discrimination B) monopoly pricing C) marginal cost pricing D) price differentiation 35) a firm will practice discrimination when it believes that by doing so it will be able to increase total A) revenue B) profits C) sales D) production 36) a firm has taken advantage of economies of scale and expanded to become the only producer in the market is? A) a monopolistic competitor B) an oligopolist C) a natural monopoly D) a cartel 37) which of the following is NOT a necessary condition for price discrimination? A) having a constant marginal cost B) downward sloping demand curve C) separating markets for the good D) preventing resale of the product 38) an important difference between perfect competition and monopoly is? A) a monopoly is not regulated by the market while a perfect competitor is regulated by the market B) the monopoly faces downward sloping demand curve and the perfect competitor faces a horizontal demand curve C) a monopoly is profitable and a perfect competitor is not D) the monopoly faces an inelastic demand curve and the perfect competitor faces and elastic demand curve 39) all of the following are characteristics of monopolistic competition EXCEPT A) a few firms dominate the industry B) many firms in the industry C) advertising D) product differentiation 40) which of the following describes monopolistic competition? A) homogeneous products B) all firms are price takers C) advertising plays a key role D) there is only one seller in the industry 41) the theory of monopolistic competition was developed in two separate models by? A) Edward chamberlin and John Robinson B) roger Leroy miller and Paul Samuelson C) John Kenneth Galbraith and John Maynard Keynes D) Adam smith and David Ricardo 42) the distinguishing of products by brand names color and other attributes? A) leads to many firms in the market B) is know as interdependence C) leads to collusion D) is known as product differentiation 43) in the long run if some monopolistically competitive firms are incurring economic losses then ? A) firms will leave the industry B) new firms will enter the industry C) they will raise prices until they earn economic profits D) they will increase production until marginal cost fall 44) when a telemarketer calls you about a service this is an example of A) persuasive marketing B) scam marketing C) indirect marketing D) direct marketing 45) a product with qualities that consumers lack the expertise to assess without assistance in called a (n) A) search good B) inferior good C) experience good D) credence good 46) persuasive advertising used to A) cut cost B) induce a consumer to try a product and discover a previously unknown taste for it C) sell to an established clientele D) promote only used goods 47) a firms trademark is protected from misuse if it is registered with the A) F.D.A B) F.C.C C) U.S. Supreme Court D) U.S patent and trademark office 48) a good that people actually consume before they can determine qualities is called A) a persuasive good B) an experience good C) a search good D) a credence good 49) the type of advertising used for a search good is A) experience advertising B) informational advertising C) persuasive advertising D) search advertising 50) advertising intended to reach as many consumers as possible typically through television newspaper or magazine ads is referred to as? A) subliminal advertising B) direct marketing C) mass marketing D) interactive advertising