Econ201 - Study guides, Class 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
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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
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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 Week 5 Quiz
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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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B.	Firms seek to maximize pr...
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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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Econ201 Week 2 Quiz (Chapter 3) | Q&A All Verified
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Econ201 Week 2 Quiz (Chapter 3) | Q&A All Verified
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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: 
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A. small number of firms producing identical products, with barriers to entry for firms. 
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B. small number of firms producing similar products, with relatively easy entry for firms. 
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C. large number of firms producing similar products, with relatively easy entry for firms. 
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D. large number of firms producing identical products, with...
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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. 
 
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B.	a monopoly. 
 
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C.	an oligopoly. 
 
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D.	perfect competition. 
 
 
 
Question 3 of 17 
 
Which of the following is true in a perfectly competitive market? 
 
 
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A.	One unit of a good or service cann...
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American Military University ECON 201 / ECON201 - Midterm - Quiz 4
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ECON 201 – Midterm 
 
Question 1 of 28 
Economics is the study of: 
 
A.	increasing the level of productive resources so there is maximum output in society. 
 
B.	increasing the level of productive resources so there is a minimum level of income. 
 
C.	how people, institutions, and society make choices under conditions of scarcity. 
 
D.	the efficient use of scarce resources paid for at the minimum level of cost to consumers and businesses. 
 
 
Question 2 of 28 
Which of the following is not ...
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