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American Military University - ECON 201 / ECON201 Quizzes and Final Exam
American Military University - ECON 201 / ECON201 Quizzes and Final Exam
[Show more]American Military University - ECON 201 / ECON201 Quizzes and Final Exam
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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 industr...
Preview 3 out of 16 pages
Add to cartQuestion 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 industr...
ECON201 Quiz Week 1 
 
Question 1 of 15 
The branch of economics that examines the impact of choices on aggregates in the economy is: 
 
A.	positive economics. 
 
B.	normative economics. 
 
C.	macroeconomics. 
 
D.	microeconomics. 
 
Question 2 of 15 
When we are forced to make choices we are facing...
Preview 2 out of 6 pages
Add to cartECON201 Quiz Week 1 
 
Question 1 of 15 
The branch of economics that examines the impact of choices on aggregates in the economy is: 
 
A.	positive economics. 
 
B.	normative economics. 
 
C.	macroeconomics. 
 
D.	microeconomics. 
 
Question 2 of 15 
When we are forced to make choices we are facing...
2x sold
ECON 201 – Midterm 
 
Question 1 of 28 
Economics is the study of: 
 
A.	increasing the level of productive resources so there is maximum output in society. 
 
B.	increasing the level of productive resources so there is a minimum level of income. 
 
C.	how people, institutions, and society make ch...
Preview 2 out of 14 pages
Add to cartECON 201 – Midterm 
 
Question 1 of 28 
Economics is the study of: 
 
A.	increasing the level of productive resources so there is maximum output in society. 
 
B.	increasing the level of productive resources so there is a minimum level of income. 
 
C.	how people, institutions, and society make ch...
2x sold
ECON 201 – Quiz 3 
 
Question 1 of 16 
Demand is price inelastic if: 
 
A.	the price of the good responds slightly to a quantity change. 
 
B.	the demand curve shifts very little when a demand shifter changes. 
 
C.	the percentage change in quantity demanded is relatively small in response to a re...
Preview 2 out of 6 pages
Add to cartECON 201 – Quiz 3 
 
Question 1 of 16 
Demand is price inelastic if: 
 
A.	the price of the good responds slightly to a quantity change. 
 
B.	the demand curve shifts very little when a demand shifter changes. 
 
C.	the percentage change in quantity demanded is relatively small in response to a re...
4x sold
Question 1 of 20 Average variable cost is: 
 
• 
 
A.	the firm's variable cost per unit multiplied by the quantity. 
 
•	 
 
B.	total variable cost divided by quantity. 
 
• 
 
C.	the difference between average total cost and total variable cost. 
 
• 
 
D.	the difference between total cost...
Preview 2 out of 14 pages
Add to cartQuestion 1 of 20 Average variable cost is: 
 
• 
 
A.	the firm's variable cost per unit multiplied by the quantity. 
 
•	 
 
B.	total variable cost divided by quantity. 
 
• 
 
C.	the difference between average total cost and total variable cost. 
 
• 
 
D.	the difference between total cost...
Preview 2 out of 12 pages
Add to cartQuestion 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...
Preview 2 out of 5 pages
Add to cartQuestion 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...
2x sold
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...
Preview 2 out of 10 pages
Add to cartQuestion 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...
3x sold
American Military University ECON 201 / ECON201 Week 2 Quiz( Chapter 3)
Preview 2 out of 8 pages
Add to cartAmerican Military University ECON 201 / ECON201 Week 2 Quiz( Chapter 3)
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