Exam (elaborations)

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

1 purchase

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...

[Show more]

Preview 3 out of 30 pages

View example

Uploaded on May 20, 2024
Number of pages 30
Written in 2023/2024
Type Exam (elaborations)
Contains Questions & answers

ecs2601 assessment 5 semester 1 2024 searchable

BMZAcademy Member since 2 year 1159 documents sold

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 EFT, 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 this summary 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 this summary for R50,00. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

64302 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy summaries for 15 years now

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

Document information

Subjects

Connected book

Written for

Seller

Reviews received

Content preview

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Quick and easy check-out

Focus on what matters

Frequently asked questions

What do I get when I buy this document?

Satisfaction guarantee: how does it work?

Who am I buying this summary from?

Will I be stuck with a subscription?

Can Stuvia be trusted?

Recently viewed by you

Exam (elaborations) ·

ECS2602 ASSESSMENT 3 SEMESTER 2 2024 Which one of the following statements is INCORRECT? In our analysis of the labour market, we assume the following: Select one: A. Labour is the only factor of prod

Package deal ·

SNHD AEMT protocol Exam Questions and Answers | SNHD AEMT Protocols Exam With Answers Latest | SNHD Paramedic Protocol Exam Questions With 100% Correct Answers | SNHD AEMT EXAM QUESTIONS AND ANSWERS L

Exam (elaborations) ·

FIN2601 Assessment 1 SEMESTER 2 2024 Maverick has been presented with two options by his parents. The rst option entails receiving annual gifts of R18 000, R22 000, R26 000, and R30 000 at the end of

Exam (elaborations) ·

NR603 Week 5 APEA Predictor Assignment Part 1 GRADED A+ NR603 Week 5 APEA Predictor Assignment Part 1 GRADED A+ NR603 Week 5 APEA Predictor Assignment Part 1 GRADED A+ NR603 Week 5 APEA Predictor Assi

Exam (elaborations) ·

American Red Cross ACLS Final Exam (Latest 2023/2024) Verified Answers by Expert. A patient is in cardiac arrest. The cardiac monitor shows asystole. In addition to providing continuous high-quality C

Summary ·

NR 504 Leadership And Nursing Practice Role Development Week 5 Peer Engagement Forum Guidelines and Rubric Latest Verified Review 2023 Practice Questions and Answers for Exam Preparation, 100% Correct

Exam (elaborations) ·

Walden University NRNP 6675 Midterm Study Guide graded A+ 2023/2024 Description SUBSTANCE-RELATED DISORDERS Substance use disorders are a cluster of disorders in which cognitive, behavioral, and physi

Package deal ·

NURS 6541 Midterm Exam Version 3! 100%Correct Questions and Answers, NURS 6541 MIDTERM EXAM VERSION 2! WITH 100%CORRECT ANSWERS, NURS 6541 Midterm Exam Questions and Answers Revised JULY 2023 & NURS 6

Essay ·

Unit 1 P5 participate in a one-to-one interaction in a health and social care context & P6 participate in a group interaction in a health and social care context & M3 assess their communication and in