Exam (elaborations)
Ecs2601 Assignment 5 Semester 2 2024
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5/14/24, 1:52 PM Assessment 5: Attempt reviewECS2601-24-S1 Welcome Message Assessment 5
QUIZ
Started on Tuesday, 14 May 2024, 1:11 PM
State Finished
Completed on Tuesday, 14 May 2024, 1:52 PM
Time taken 41 mins 21 secs
Marks 40.00/40.00
Grade 100.00 out of 100.00
Question 1
Complete
Mark 2.00 out of 2.00
Given the previous unit sold, the monopolist earns less revenue from that unit
due to a reduced price.
Select one:
True
False
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=19168770&cmid=879226 1/8
,5/14/24, 1:52 PM Assessment 5: Attempt review
Question 2
Complete
Mark 3.00 out of 3.00
Use the following graph to answer the question.
Producer surplus in a monopoly is represent by ...
a. D + B + C + E
b. A + B + C + D + E
c. A + B + D
d. B + D
Question 3
Complete
Mark 2.00 out of 2.00
Optimal, third-degree price discrimination do not require that marginal revenue
for each group of consumers equals marginal cost.
Select one:
True
False
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=19168770&cmid=879226 2/8
,5/14/24, 1:52 PM Assessment 5: Attempt review
Question 4
Complete
Mark 2.00 out of 2.00
One who follows the Cournot duopoly strategy assumes that competing rms …
a. will pick the strategy most damaging to each other.
b. treat each other’s price as xed when making an output decision.
c. will collude informally rather than cut price.
d. treat each other’s quantity as xed when making an output decision.
Question 5
Complete
Mark 2.00 out of 2.00
A monopolist choose a price to charge in order to maximise pro ts, given that
price depends on qunatity.
Select one:
True
False
Question 6
Complete
Mark 2.00 out of 2.00
A natural monopoly exists in an industry with constant returns to scale.
Select one:
True
False
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=19168770&cmid=879226 3/8
, 5/14/24, 1:52 PM Assessment 5: Attempt review
Question 7
Complete
Mark 3.00 out of 3.00
A rm faces the following average revenue (demand) curve:
P = 120 – 0.02Q
where Q is weekly production and P is price, measured in cents per unit. The
rm’s cost function is given by C = 60Q + 25,000. Assume that the rm
maximizes pro ts.
What is the level of production?
a. 6000
b. 1500
c. 750
d. 3000
Question 8
Complete
Mark 2.00 out of 2.00
Which one of the following is NOT an example of price discrimination?
a. The local country club offering lower rates to beginners.
b. The lower cost structure of South African Airlines, which allows it to
sell cheaper airline tickets.
c. Cheaper electricity during off-peak periods.
d. “Buy two, get one free” pizza promotions at Little Italy Pizzeria.
Question 9
Complete
Mark 2.00 out of 2.00
Second-degree price discrimination is the practice of charging
a. different prices for different quantity blocks of the same good or
service.
b. the reservation price to each customer.
c. different groups of customers different prices for the same products.
d. each customer the maximum price that he or she is willing to pay.
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