Econ 201 fina - Study guides, Class notes & Summaries
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ECON 201 Final Exam Practice Questions With 100% SURE ANSWERS
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ECON 201 Final Exam Practice Questions With 100% SURE ANSWERS
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American Military University ECON 201 ECON201 FINAL EXAM
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American Military University ECON 201 ECON201 FINAL 
EXAM 
Question 1 of 29 
One defining characteristic of pure monopoly is that: 
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A. The monopolist is a price taker 
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B. The monopolist uses advertising 
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C. The monopolist produces a product with no close substitutes 
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D. There is relatively easy entry into the industry, but exit is difficult 
Question 2 of 29 
Which is a barrier to entry? 
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A. Close substitutes 
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B. Diseconomies of scale 
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C. Government licensing ...
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American Military University ECON 201 ECON201 FINAL EXAM
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American Military University ECON 201 ECON201 FINAL EXAM
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American Military University - ECON 201 / ECON201 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 industry, but exit is difficult 
 
 
 
Question 2 of 29 
Which is a barrier to entry? 
 
 
• 
 
A.	Close substitutes 
 
• 
 
B.	Diseconomies of scale 
 
 
•	 
 
 
C.	Government licensing 
 
• 
 
D.	...
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American Military University ECON 201 ECON201 FINAL EXAM
- Exam (elaborations) • 16 pages • 2023
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American Military University ECON 201 ECON201 FINAL EXAM
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ECON 201 FINAL EXAM 2023-2024 QUESTIONS AND CORRECT ANSWERS
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ECON 201 FINAL EXAM 
QUESTIONS AND CORRECT ANSWERS 
 
ECON 201 FINAL EXAM 
QUESTIONS AND CORRECT ANSWERS 
 
 
ECON 201 FINAL EXAM 
QUESTIONS AND CORRECT ANSWERS 
 
 
ECON 201 FINAL EXAM 
QUESTIONS AND CORRECT ANSWERS 
 
 
ECON 201 FINAL EXAM 
QUESTIONS AND CORRECT ANSWERS
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Econ 201 Final Exam With 100% ACCURATE QUESTIONS AND ANSWERS GRADED A+
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Econ 201 Final Exam With 100% ACCURATE QUESTIONS AND ANSWERS GRADED A+
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bundle for American Military University ECON 201 ECON201 FINAL EXAM
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ECON 201 Final Exam 2022
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ECON 201 Final Exam 2022 
 
impact on quantity demanded of an elastic good when price changes slightly - quantity demanded changes even more than price because of the availability of substitutes (ex: wheat, coke/pepsi) 
 
quantity demanded changes less than price because consumers need the product (ex: gas) - impact on quantity demanded of an inelastic good when price changes slightly 
 
potential for profit has what impact on competition? - creates more competition by drawing new firms toward t...
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ECON101 201 Final Solved 201 SOLVED ECON FINAL Exam LATEST VERSION 2023 100% COMPLETE TEST
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ECON101 201 Final Solved 201 SOLVED ECON FINAL Exam LATEST VERSION 2023 100% COMPLETE TEST
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