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  5. ECO402 Quiz 3 Solution and Discussion
ECO402 Quiz 3 Solution and Discussion
zareenZ
Quiz # 03 Total Questions : 10 Please read the following instructions carefully! Quiz will be based upon Multiple Choice Questions (MCQs). You have to attempt the quiz online. You can start attempting the quiz any time within given date(s) of a particular subject by clicking the link for Quiz in VULMS. Each question has a fixed time of 90 seconds. So you have to save your answer before 90 seconds. But due to unstable internet speeds, it is recommended that you should save your answer within 60 seconds. While attempting a question, keep an eye on the remaining time. Attempting quiz is unidirectional. Once you move forward to the next question, you can not go back to the previous one. Therefore before moving to the next question, make sure that you have selected the best option. DO NOT press Back Button / Backspace Button while attempting a question, otherwise you will lose that question. DO NOT refresh the page unnecessarily, specially when following messages appear Saving… Question Timeout: Now loading next question… Javascript MUST be enabled in your browser; otherwise you will not be able to attempt the quiz. If for any reason, you lose access to internet (like power failure or disconnection of internet), you will be able to attempt the quiz again from the question next to the last shown question. But remember that you have to complete the quiz before expiry of the deadline. If any student failed to attempt the quiz in given time then no re-take or offline quiz will be held. Start Quiz
ECO402 - Microeconomics

ECO402 Quiz 3 Solution and Discussion

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  • zareenZ Offline
    zareenZ Offline
    zareen
    Cyberian's Gold
    wrote on last edited by
    #4

    In the Bertrand model with homogeneous products,
    a64ffecc-b77f-4d81-9131-48a0d56c5c0c-image.png

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    • zareenZ Offline
      zareenZ Offline
      zareen
      Cyberian's Gold
      wrote on last edited by
      #5

      When a firm charges each customer the maximum price that the customer is willing to pay, the firm:
      b602ce4c-4e6e-4696-a1b5-874daf9c9592-image.png

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      • zareenZ Offline
        zareenZ Offline
        zareen
        Cyberian's Gold
        wrote on last edited by
        #6

        If leisure is a normal good, then the income effect of a decrease in wage will:
        36f9eea4-20f4-43ce-a12e-4d03fb714ad8-image.png

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        • zareenZ Offline
          zareenZ Offline
          zareen
          Cyberian's Gold
          wrote on last edited by
          #7

          Which of the following is true for both perfectly competitive and monopolistically competitive firms in the long run?

          07495329-3ddb-45e8-97fb-ea49419d872d-image.png

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          • zareenZ Offline
            zareenZ Offline
            zareen
            Cyberian's Gold
            wrote on last edited by
            #8

            The monopolist that maximizes profit:
            6f0963ad-afd2-4774-add2-7dcfcf547045-image.png

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            • zareenZ Offline
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              zareen
              Cyberian's Gold
              wrote on last edited by
              #9

              A market with few entry barriers and with many firms that sell differentiated products is:
              2bca289c-798c-4cd9-b2ff-478236480d2e-image.png

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              • zareenZ Offline
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                zareen
                Cyberian's Gold
                wrote on last edited by
                #10

                All of the following options are true for monopoly EXCEPT?
                6bd8650e-9ad2-4d03-a309-2b9dcb4cb9b6-image.png

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                • zareenZ Offline
                  zareenZ Offline
                  zareen
                  Cyberian's Gold
                  wrote on last edited by
                  #11

                  The monopolist has no supply curve because:
                  a406ee45-d2a9-4aa8-af1a-2da4ca41e3af-image.png

                  Discussion is right way to get Solution of the every assignment, Quiz and GDB.
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