ECON101 Final Exam Latest 2017
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ECON101 Final Exam Latest 2017 ECON101 Final Exam Latest 20 3
Latest notes & summaries ECON101 Final Exam Latest 2017
Question 1 of 20
The representative firm in a purely competitive industry:
A. Will always earn a profit in the short run
B. May earn either an economic profit or a loss in the long run
C. Will always earn an economic profit in the long run
D. Will earn an economic profit of zero in the long run
Question 2 of 20
An example of a monopolistically competitive industry would be:
A. Steel
B. Soybeans
C. Electricity
D. Retail clothing
Question 3 of 20
Firms in an industry will not earn long-run economi...
- Exam (elaborations)
- • 9 pages's •
-
ECON101 Final Exam Latest 2017•ECON101 Final Exam Latest 2017
Preview 1 out of 9 pages
Question 1 of 20
The representative firm in a purely competitive industry:
A. Will always earn a profit in the short run
B. May earn either an economic profit or a loss in the long run
C. Will always earn an economic profit in the long run
D. Will earn an economic profit of zero in the long run
Question 2 of 20
An example of a monopolistically competitive industry would be:
A. Steel
B. Soybeans
C. Electricity
D. Retail clothing
Question 3 of 20
Firms in an industry will not earn long-run economi...
Question 1 of 20
The representative firm in a purely competitive industry:
A. Will always earn a profit in the short run
B. May earn either an economic profit or a loss in the long run
C. Will always earn an economic profit in the long run
D. Will earn an economic profit of zero in the long run
Question 2 of 20
An example of a monopolistically competitive industry would be:
A. Steel
B. Soybeans
C. Electricity
D. Retail clothing
Question 3 of 20
Firms in an industry will not earn long-run economi...
- Exam (elaborations)
- • 9 pages's •
-
ECON101 Final Exam Latest 2017•ECON101 Final Exam Latest 2017
Preview 1 out of 9 pages
Question 1 of 20
The representative firm in a purely competitive industry:
A. Will always earn a profit in the short run
B. May earn either an economic profit or a loss in the long run
C. Will always earn an economic profit in the long run
D. Will earn an economic profit of zero in the long run
Question 2 of 20
An example of a monopolistically competitive industry would be:
A. Steel
B. Soybeans
C. Electricity
D. Retail clothing
Question 3 of 20
Firms in an industry will not earn long-run economi...
Question 1 of 20
The representative firm in a purely competitive industry:
A. Will always earn a profit in the short run
B. May earn either an economic profit or a loss in the long run
C. Will always earn an economic profit in the long run
D. Will earn an economic profit of zero in the long run
Question 2 of 20
An example of a monopolistically competitive industry would be:
A. Steel
B. Soybeans
C. Electricity
D. Retail clothing
Question 3 of 20
Firms in an industry will not earn long-run economi...
- Exam (elaborations)
- • 9 pages's •
-
ECON101 Final Exam Latest 2017•ECON101 Final Exam Latest 2017
Preview 1 out of 9 pages
Question 1 of 20
The representative firm in a purely competitive industry:
A. Will always earn a profit in the short run
B. May earn either an economic profit or a loss in the long run
C. Will always earn an economic profit in the long run
D. Will earn an economic profit of zero in the long run
Question 2 of 20
An example of a monopolistically competitive industry would be:
A. Steel
B. Soybeans
C. Electricity
D. Retail clothing
Question 3 of 20
Firms in an industry will not earn long-run economi...