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1、1.?AtypicalfirmintheUSeconomywouldbeclassifiedas?a.?perfectlycompetitive.?b.?imperfectlycompetitive.?c.?aduopolist.?d.?anoligopolist.ANSWER:??bDIFFICULTY:??EasyLEARNING?OBJECTIVES:??ECON.MANK.012-Applybasic,economicprinciplesofindividualdecisionmakingthatdeterminehowaneconom
2、ygenerallyworks.TOPICS:??EconomicthinkingU.S.economyKEYWORDS:??BLOOM'S:ComprehensionCUSTOM?ID:??001.16.1-MC-MANK082.?ThetypicalfirmintheUSeconomy?a.?hassomedegreeofmarketpower.?b.?sellsitsproductforapricethatisequaltothemarginalcostofproducingthelastunit.?c.?isperfectlycompe
3、titive.?d.?isamonopoly.ANSWER:??aDIFFICULTY:??ModerateLEARNING?OBJECTIVES:??ECON.MANK.012-Applybasic,economicprinciplesofindividualdecisionmakingthatdeterminehowaneconomygenerallyworks.TOPICS:??EconomicthinkingU.S.economyKEYWORDS:??BLOOM'S:ComprehensionCUSTOM?ID:??002.16.1-M
4、C-MANK083.?Whichofthefollowingpairsillustratesthetwoextremeexamplesofmarketstructures??a.?perfectcompetitionandoligopoly?b.?perfectcompetitionandmonopoly?c.?monopolyandmonopolisticcompetition?d.?oligopolyandmonopolisticcompetitionANSWER:??bDIFFICULTY:??EasyLEARNING?OBJECTIVE
5、S:??ECON.MANK.012-Applybasic,economicprinciplesofindividualdecisionmakingthatdeterminehowaneconomygenerallyworks.TOPICS:??MicroeconomicsKEYWORDS:??BLOOM'S:ComprehensionCUSTOM?ID:??003.16.1-MC-MANK084.?Thegeneraltermformarketstructuresthatfallsomewherebetweenmonopolyandperfec
6、tcompetitionis?a.?incompletemarkets.?b.?imperfectlycompetitivemarkets.?c.?oligopolymarkets.?d.?monopolisticallycompetitivemarkets.ANSWER:??bCopyrightCengageLearning.PoweredbyCognero.Page?29DIFFICULTY:??EasyLEARNING?OBJECTIVES:??ECON.MANK.093-Examinemonopolisticallycompetitiv
7、efirms.TOPICS:??MicroeconomicsKEYWORDS:??BLOOM'S:KnowledgeCUSTOM?ID:??004.16.1-MC-MANK085.?Thetwotypesofimperfectlycompetitivemarketsare?a.?marketswithadvertisingandmarketswithpricecompetition.?b.?publicgoodsandcommonresources.?c.?oligopolyandmonopoly.?d.?monopolisticcompeti
8、tionandoligopoly.ANSWER:??dDIFFICULTY:??EasyLEARNING?OBJECTIVES:??ECON.MANK