100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
Previously searched by you
ECS2601 ASSESSMENT 5 SEMESTER 1 2024 SEARCHABLE A tuckshop near Unisa offers lunch specials to first-year students. If students showed their ID cards, they would receive 10% off the cost of their lunch. This practice is anexample of Suppose that an indu£2.25
Add to cart
ECS2601 ASSESSMENT 5 SEMESTER 1 2024 SEARCHABLE A tuckshop near Unisa offers lunch specials to first-year students. If students showed their ID cards, they would receive 10% off the cost of their lunch. This practice is anexample of Suppose that an indu
44 views 1 purchase
Module
Intermediate Microeconomics - ECS2601 (ECS2601)
Institution
University Of South Africa (Unisa)
Book
Microeconomics
ECS2601 ASSESSMENT 5 SEMESTER 1 2024 SEARCHABLE
A tuckshop near Unisa offers lunch specials to first-year students. If students showed their ID cards, they would receive 10% off the cost of their lunch. This practice is anexample of
Suppose that an industry is characterized as follows:
C = 1...
PES3701 ASSIGNMENT 3 (DETAILED ANSWERS WITH FOUR ESSAY OPTIONAL ANSWERS) - DUE 30 JULY 2024QUESTIONS AND COMPLETE WELL EXPLAINED ANSWERS WITH RATIONALE 100% CORRECT VERIFIED BY EXPERTS AND GRADED A+ L...
All for this textbook (2)
Written for
University of South Africa (Unisa)
Intermediate Microeconomics - ECS2601 (ECS2601)
All documents for this subject (1)
Seller
Follow
BMZAcademy
Reviews received
Content preview
BMZ ACADEMY
BMZ ACADEMY
@061 262 1185/068 053 8213/0717 513 144
BMZ ACADEMY 061 262 1185/068 053 8213/0717 513 144
, BMZ ACADEMY
Question 1
Not yet answered
Marked out of 3.00
Flag question
Question text
Suppose that an industry is characterized as follows:
C = 100 + 2q2 each firm’s total cost function
MC = 4q firm’s marginal cost function
P = 90 – 2Q industry demand curve
MR = 90 – 4Q industry marginal revenue curve
If there is only one firm in the industry, find the monopoly level of profit.
a. R406.25
b. R40.62
c. R55
d. R550
Clear my choice
Question 2
Not yet answered
Marked out of 2.00
Flag question
Question text
A tuckshop near Unisa offers lunch specials to first-year students. If students showed
their ID cards, they would receive 10% off the cost of their lunch. This practice is
anexample of
a. price discrimination
b. collusion
c. a two-part tariff
d. bundling
Question 3
Not yet answered
Marked out of 2.00
Flag question
Question text
When MR > MC, this mean a monopolist is facing reduced profits and should produce
less.
Select one:
True
False
BMZ ACADEMY 061 262 1185/068 053 8213/0717 513 144
Page 2 of 10
, BMZ ACADEMY
Question 4
Not yet answered
Marked out of 2.00
Flag question
Question text
A perfect price-discrimination monopolist will …
a. All of the options are correct.
b. leave no consumer surplus for his/her customer.
c. produce where MC=MR.
d. produce the amount that is larger than a non-price discriminator.
Question 5
Not yet answered
Marked out of 2.00
Flag question
Question text
A weakness of the Stackelberg model is that …
a. both firms behave strategically.
b. there are no assumptions about how the firms will react to each other.
c. both firms behave naively rather than strategically.
d. one firm behaves strategically while the other behaves naively.
Clear my choice
Question 6
Not yet answered
Marked out of 2.00
Flag question
Question text
Price discrimination requires the ability to sort customers and the ability to prevent
arbitrage.
Select one:
True
False
Question 7
Not yet answered
Marked out of 2.00
Flag question
Question text
Duopoly is a special case of which type of market structure
a. Monopoly.
BMZ ACADEMY 061 262 1185/068 053 8213/0717 513 144
Page 3 of 10
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 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 BMZAcademy. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for £2.25. You're not tied to anything after your purchase.
