please follow the number and chose one answer
Q stion 15 2.5 points Save Answer Most websites on the internet are usually because they are free to access and eve ryone who wanE to can visit them at the same time. However, sometimes when a lot of people vi sit a site at the same time. it becomes difcult to access. so it becomes a O nonrival. club good 0 common resources, public good 0 rival. private good 0 public goods. common resource Question 16 The table shows the demand and supply schedules for tickets to a concert in the park. Quantity Quantity Price demanded supplied (dollars per ticket) (tickets per concert) 600 200 500 300 400 400 300 500 200 10 100 700 With a $2 sales tax imposed on sellers of concert tickets, which of the following is correct? Concert-goers pay $2 of the tax, and the government collects $600 of tax revenue. Concert-goers pay $9 a ticket and buy 200 tickets. Concert-sellers receive $6 a ticket and sell 300 tickets. Concert sellers pay $1 of the tax, and the government collects $800 of tax revenue.Question 17 Steve is the only seller of water in town. The market for water is characterized by the following: Demand: P = 100 - /2Q Marginal Revenue: MR = 100 - Q Marginal Cost: MC = 20+ Q What is the deadweight loss associated with this monopoly? O 67 O 33 O 266 O 133Question 18 2.5 points Save Answer The table shows the town of Driveaway's demand schedule for gasoline. Assume the town's gasoline seller(s) incurs a cost of $2 for each gallon sold, with no fixed cost. Quantity Price Total Revenue (Gallons) (Dollars per gallon) (Dollars) 0 0 50 350 100 600 150 750 200 800 250 750 If there are exactly five sellers of gasoline in Driveaway and if they collude, then which of the following outcomes would be most profitable for the sellers? O Each seller will sell 30 gallons and charge a price of $4. O Each seller will sell 30 gallons and charge a price of $5. O Each seller will sell 40 gallons and charge a price of $4. O Each seller will sell 50 gallons and charge a price of $3.Question 19 A monopolistically competitive rm faces the following demand schedule for its product. In addition, the rm has total fixed costs equal to 20. Prim Quantity $30 1 $26 2 $22 3 $13 4 $14 5 $10 6 $6 1 E If the rm produces its prot-maximizing level of output and there is a constant marginal cost of $3? per unit. which of the following is incorrect? 0 000 This rm is not operating at its efcient scale. This rm earns $25 prot at the protmaximizing level of output. This rm is in a longrun equilibrium. This rm charges a price of $22 to maximize its prot. Question 20 Refer to the table below. The table shows Long-Run Total Costs Quantity 1 2 3 4 5 6 Firm 1 $180 $280 $470 $680 $890 $1.200 $1.510 Firm 2 $120 $250 $390 $540 $700 $870 $1.050 Firm 3 $150 $300 $450 $600 $750 $900 $1,050 Firm 4 $210 $340 $490 $620 $850 $1.060 $1,290 Firm 1's efficient scale occurs at what quantity? 05 O 4 O 3 02Question 21 2.5 points Save Answer Following a supply shock (a shift in the supply curve), the equilibrium price in the market goes up, but the equilibrium quantity remains the same. Which one of the following can be true? The supply curve shifted right and the demand curve is perfectly inelastic. The supply curve shifted left and the demand curve is perfectly elastic. The supply curve shifted left and the demand curve is perfectly inelastic. The supply curve shifted right and the supply curve is perfectly inelastic
