Exam (elaborations)
ECS2601 Assignment 5 Semester 1 2024
- Course
- Institution
he document contains Assignment question Together with answers Distinction Guaranteed 100% multiple Attempts done Whtsapp
[Show more]
Seller
Follow
SmartTutors
Reviews received
Content preview
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.
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=19168770&cmid=879226 4/8
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller SmartTutors. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $4.84. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
72042 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now