Econ201 week - Study guides, Revision notes & Summaries
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American Military University ECON 201 ECON201 WEEK 7 Quiz 100% CORRECT
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American Military University ECON 201 ECON201 WEEK 7 Quiz 
100% CORRECT 
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 of firms producing similar products, with relatively easy entry for firms. 
• 
D. large number of firms producing identical products, with...
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American Military University ECON 201 ECON201 WEEK 5 Quiz
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APUS ECON201 WEEK 8 FINAL Exam 98% score
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APUS ECON201: Final Exam – 98% 
Overall Grade (highest attempt): 157.5 / 160 - 98.44 % 
 
 
Question 1	5/5 
One defining characteristic of pure monopoly is that: The monopolist is a price taker 
The monopolist uses advertising 
 
 
 
There is relatively easy entry into the industry, but exit is difficult 
 
Question 2	5/5 
Which is a barrier to entry? 
 
Close substitutes Diseconomies of scale 
 
 
Price-taking behavior 
 
Question 3	5/5 
Other things equal, which reduces competition in an ind...
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American Military University ECON 201 / ECON201 Week 2 Quiz( Chapter 3)
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American Military University ECON 201 / ECON201 Week 2 Quiz( Chapter 3)
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American Military University ECON 201 / ECON201 Week 6 Quiz
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ECON 201 Week 6 Quiz 
 
 
 
 
 
Question 2 of 17 
 
An industry that contains a firm that is the only producer of a good or service for which there are no close substitutes and for which entry by potential rivals is prohibitively difficult is: 
 
 
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A.	a duopoly. 
 
•	 
 
B.	a monopoly. 
 
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C.	an oligopoly. 
 
• 
 
D.	perfect competition. 
 
 
 
Question 3 of 17 
 
Which of the following is true in a perfectly competitive market? 
 
 
•	 
 
A.	One unit of a good or service cann...
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American Military University ECON 201 ECON201 WEEK 7 Exam Questions Quiz 100% CORRECT
- Exam (elaborations) • 10 pages • 2023
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American Military University ECON 201 ECON201 WEEK 7 Exam Questions Quiz 
100% CORRECT 
 
 
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 of firms producing similar products, with relatively easy entry for firms. 
 
 
 
• 
 
D. ...
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American Military University ECON 201 / ECON201 Week 7 Quiz
- Exam (elaborations) • 10 pages • 2022
- Available in package deal
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- £7.75
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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 of firms producing similar products, with relatively easy entry for firms. 
 
• 
 
D.	large number of firms producing identical products, with relatively easy entry for firms. 
 
 
 
Answer Key:C Q...
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American Military University ECON 201 ECON201 WEEK 5 Quiz
- Exam (elaborations) • 15 pages • 2023
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American Military University ECON 201 ECON201 WEEK 5 Quiz
- Exam (elaborations) • 15 pages • 2024
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American Military University ECON 201 ECON201 WEEK 5 
Quiz 
Question 1 of 20 
Average variable cost is: 
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A. the firm's variable cost per unit multiplied by the quantity. 
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B. total variable cost divided by quantity. 
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C. the difference between average total cost and total variable cost. 
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D. the difference between total cost and total variable cost. 
Question 2 of 20 
Which of the following is (are) correct? 
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A. Firms are organizations that produce goods and services. 
•...
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American Military University ECON 201 ECON201 WEEK 5 Quiz
- Exam (elaborations) • 15 pages • 2023
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- £8.15
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American Military University ECON 201 ECON201 WEEK 5 
Quiz 
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 and total variable cost.
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