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ECS2601 ASSIGNMENT 5 2024 (MCQ ANSWERS)
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- University Of South Africa (Unisa)
ECS2601 ASSIGNMENT 5 2024 (MCQ ANSWERS)
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10/31/24, 5:29 AM Assessment 5 (page 1 of 8)UNISA 2024 ECS2601-24-S2 Welcome Message Assessment 5
QUIZ
Question 1
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Optimal, third-degree price discrimination do not require that marginal revenue for each group of consumers equals marginal
cost.
Select one:
True
False
Question 2
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A firm 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 firm’s cost function is given by C = 60Q + 25,000.
Assume that the firm maximizes profits.
What is the level of Price?
a. R0.90
b. R105
c. R1.20
d. R60
Clear my choice
https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=23425746&cmid=990761 1/1
,10/31/24, 5:29 AM Assessment 5 (page 2 of 8)
UNISA 2024 ECS2601-24-S2 Welcome Message Assessment 5
QUIZ
Question 3
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For every addtional unit sold, the monopolist earns more revenue.
Select one:
True
False
Question 4
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The monopolistic competitor can sell to less consumers and maximize overall profit by producing multiple brands and
practicing a form of price discrimination.
Select one:
True
False
https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=23425746&cmid=990761&page=1 1/1
,10/31/24, 5:29 AM Assessment 5 (page 3 of 8)
UNISA 2024 ECS2601-24-S2 Welcome Message Assessment 5
QUIZ
Question 5
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Rent seeking behaviour can be defined as a social cost that goes beyond a simple deadweight loss.
Select one:
True
False
Question 6
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A monopolist has equated marginal revenue to zero. The firm has:
a. minimised cost.
b. minimised profit
c. maximised profit.
d. maximised revenue.
Clear my choice
https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=23425746&cmid=990761&page=2 1/1
, 10/31/24, 5:29 AM Assessment 5 (page 4 of 8)
UNISA 2024 ECS2601-24-S2 Welcome Message Assessment 5
QUIZ
Question 7
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Average revenue per quanity, is also equal to price times quantity.
Select one:
True
False
Question 8
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For a monopolist the market price is affected by their choice of quantity.
Select one:
True
False
https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=23425746&cmid=990761&page=3 1/1
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