QUESTION 26 e market, the process of entry and exit will end when cost are zero.
ID: 1127948 • Letter: Q
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QUESTION 26 e market, the process of entry and exit will end when cost are zero. O d. marginal revenue equals marginal cost QUESTION 27 o a. increase the quantity sold as they increase price o b.charge prices that equal minimum average total cost charge a price that is higher than marginal cost. o d dump excess supplies of their product on the market. Remaining QUESTION 28 that everyone prefers to live in a society without poverty. Further suppose that some private charities are successful in reducing poverty o a can free ride on the generosity of others o b. decrease the relliance of individuals on antipoverty programs of government-s programs. o d receive no external benefit from private antipoverty programs QUESTION 29 The particular price that results in quantity s o a. maximizes the combined welfare of buyers and sellers. o b.maximizes costs of the seller O c. maximizes tax revenue for the govemment d minimizes the expenditure of buyers QUESTION 30Explanation / Answer
Answer : 26) In a perfectly competitive market, the process of entry and exit will end when (a) economic profits are zero.
27) Monopolies use their market power to (c) charge a price that is higher than marginal cost.
28) Suppose that everyone prefers to live in a society without poverty. Further suppose that some private charities are successful in reducing poverty (c) are most likely to be in favour of government-sponsored programs.
29) The particular price that results in quantity supplied being equal to quantity demanded is the best price because it (a) maximizes the combined welfare of buyers and sellers.
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