Answer to Question #86127 in Microeconomics for Joshua

Question

6. Pure monoplist is when the monopolist has ------ in the industry.
a.Economies of scale
b.large economies of scale
c.Capital
d.no competitor

7.In a ----- economy, the economic decision are made based on -----, ----- and ----- of that society.
a.traditional; believes, norms, religion and customs
b.transnational; believes, norms, and customs
c.national; disbelieves, norms, irreligion and customs
d.traditional; believes, normal, irreligion and customs

8.The demand curve facing the monoplist is -------
a.upward
b.slanting
c.curved
d.downward

9.Goods and services usually referred to as ------ are produced by firms while household individuals are the ----- of the commodities.
a.‘Commondities' , costoms
b.‘Commodities' , consumers
c.‘Goodies' , producers
d.‘Commondities' , producers

10.The tabular representation quantity demanded of particular commodities at different prices ----------
a.supply function
b.demand Schedule
c.demand curve
d.supply schedule

Answer 1

6. D,

7. A,

8. D,

9. B,

10. B.