Question
Question 1 Every weekend, retailers, particularly grocery stores, publish discount coupons in local papers. What is this behaviour consistent with? Question 1 options: concern for
Question 1
Every weekend, retailers, particularly grocery stores, publish discount coupons in local papers. What is this behaviour consistent with?
Question 1 options:
concern for low-income families
increasing returns to scale
price discrimination
perfect competition
Question 2
A monopoly firm can sell as much output as it wants at whatever price it sets.
Question 2 options:
TrueFalse
Question 3
Patents can serve as an entry barrier.
Question 3 options:
TrueFalse
Question 4
Question 4 options:
Which of the following is NOT a cause of monopoly?
economies of scale
a copyright
freely available critical inputs to production
a patent
Question 5
Milk comes in containers of different sizes. The large ones cost more than the smaller containers, but on a per unit basis, they cost less. What is the likely reason for this discrepancy?
Question 5 options:
increasing returns to scale
price discrimination
marginal cost pricing
positive externalities
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