As shown in the figure. total xed cost for the rm is (1 Paint} IN 1\"\" mum (Humane 11 In the figure, the firm's total revenue at a price 20 of $10 per unit pays for Price and D (1 Point) 15 cont por unit ATC dollant AVC 5 500 1.000 1,500 2000 2.500 Quantity of output (units per week] O portion of total variable costs. a portion of total fixed costs. () none of the total fixed costs. () all of the total fixed costs and total variable costs13 As shown in the figure, this monopolist 40 MC (1 Point) ATC Price, 30 costs, AVC and revenue 20 (dollars) 10 MR D 0 100 200 300 400 500 Quantity of output (units per day) should shut down in the short run. O should shut down in the long run. O earns zero economic profi t. O earns positive economic profit- Demandpull inflation is caused by [1 Point} O monopoly power. O energy costincreases. O tax increases. O Increase in aggregate demand The law of diminishing {marginal} returns states that as more of a variable factor is added to a certain amount of a fixed factor, beyond some point: [1 Point} Q Total physical product begins to fall 0 The marginal physical product rises O The marginal physical product falls 0 The average physical product falis In monopolistic competition. rms achieve some degree of market power [1 Point} by producing differentiated products. 0 because of barriers to entryr into the industry. 0 because of barriers to exit from the industry. 0 by virtue of size atone. 2 40 MC ATC Price, 30 costs, AVC and revenue 20 (dollars) 10 MR 0 100 200 300 400 500 Quantity of output (units per day) To maximize profi t or minimize loss, the monopolist should set its price a (1 Point) O $30 per unit. $25 per unit. $20 per unit. $10 per unit.'2' If firms can neither enter nor ieave an industry, the relevant time period is the [1 Point} tong run. immediate run. intermediate run. 0000 short run. Costpush ination is due to [1 Point} O excess total spending. 0 too much money chasing too few goods. 0 resource cost increases. 0 the economy.r operating at fuii employment. An industry with many:' small sellers. a differentiated product, and easyr entry.r would best be described as which of the following? [1 Point} O Oligopoly O Monopoliet'rc competition 0 Perfect competition 0 Mo nopolyr Assume the price of the firm's product in the gure is $113 per unit. The maximum prot the rm earns is [1 Point} C} zero. 0 $5.000 per week. O $1.530 per week. 0 $143,509 per week
