Econ201 - Study guides, Class notes & Summaries

American Military University ECON 201 ECON201 FINAL EXAM

American Military University ECON 201 ECON201 WEEK 5 Quiz

American Military University ECON 201 ECON201 WEEK 5 Quiz

American Military University ECON 201 ECON201 FINAL EXAM

American Military University ECON 201 ECON201 WEEK 7 Quiz 100% CORRECT

American Military University ECON 201 ECON201 WEEK 7 Quiz 100% CORRECT

American Military University ECON 201 ECON201 FINAL EXAM Question 1 of 29 One defining characteristic of pure monopoly is that: • A. The monopolist is a price taker • B. The monopolist uses advertising • C. The monopolist produces a product with no close substitutes • D. There is relatively easy entry into the industry, but exit is difficult Question 2 of 29 Which is a barrier to entry? • A. Close substitutes • B. Diseconomies of scale • C. Government licensing ...

Question 1 of 29 One defining characteristic of pure monopoly is that: • A. The monopolist is a price taker • B. The monopolist uses advertising • C. The monopolist produces a product with no close substitutes • D. There is relatively easy entry into the industry, but exit is difficult Question 2 of 29 Which is a barrier to entry? • A. Close substitutes • B. Diseconomies of scale • C. Government licensing • D. ...

What are the 4 types of auctions - 1. Ascending bid auction 2. Descending bid auction 3. First price sealed auction 4. Second Price sealed auction What kind of 'game' is an Ascending bid auction - Sequential Briefly explain an Ascending bid auction and what information sellers can get from it - Classic type of auction, auctioneer keeps raising the price and bidders drop out as the price exceeds with WTP, sellers can establish the willingness to pay of every potential bidder other t...

American Military University ECON 201 ECON201 WEEK 7 Quiz 100% CORRECT Question 1 Monopolistic competition is an industry characterized by a: • A. small number of firms producing identical products, with barriers to entry for firms. • B. small number of firms producing similar products, with relatively easy entry for firms. • C. large number of firms producing similar products, with relatively easy entry for firms. • D. large number of firms producing identical products, with...