DAVENPORT ECON625 FINAL EXAM
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DAVENPORT ECON625 FINAL EXAM Davenport ECON625 Final Ex 4
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Question
Question 1
In the long run, the most helpful action that a monopolistically competitive firm can take to maintain its economic profit is to
continue its efforts to differentiate its product.
raise its price.
lower its price.
do nothing, because it will inevitably experience a decline in profits
2 points 
Question 2
The four-firm concentration ratio
indicates the total profitability among the top four firms in an industry
is an indicator of the degree of monopolistic competition.
indicat...
- Exam (elaborations)
- • 10 pages's •
-
Davenport ECON625 Final Exam•Davenport ECON625 Final Exam
Preview 1 out of 10 pages
Question
Question 1
In the long run, the most helpful action that a monopolistically competitive firm can take to maintain its economic profit is to
continue its efforts to differentiate its product.
raise its price.
lower its price.
do nothing, because it will inevitably experience a decline in profits
2 points 
Question 2
The four-firm concentration ratio
indicates the total profitability among the top four firms in an industry
is an indicator of the degree of monopolistic competition.
indicat...
Question
Question 1
In the long run, the most helpful action that a monopolistically competitive firm can take to maintain its economic profit is to
continue its efforts to differentiate its product.
raise its price.
lower its price.
do nothing, because it will inevitably experience a decline in profits
2 points 
Question 2
The four-firm concentration ratio
indicates the total profitability among the top four firms in an industry
is an indicator of the degree of monopolistic competition.
indicat...
- Exam (elaborations)
- • 10 pages's •
-
Davenport Econ625 final exam•Davenport Econ625 final exam
Preview 2 out of 10 pages
Question
Question 1
In the long run, the most helpful action that a monopolistically competitive firm can take to maintain its economic profit is to
continue its efforts to differentiate its product.
raise its price.
lower its price.
do nothing, because it will inevitably experience a decline in profits
2 points 
Question 2
The four-firm concentration ratio
indicates the total profitability among the top four firms in an industry
is an indicator of the degree of monopolistic competition.
indicat...
Question
Question 1
In the long run, the most helpful action that a monopolistically competitive firm can take to maintain its economic profit is to
continue its efforts to differentiate its product.
raise its price.
lower its price.
do nothing, because it will inevitably experience a decline in profits
2 points 
Question 2
The four-firm concentration ratio
indicates the total profitability among the top four firms in an industry
is an indicator of the degree of monopolistic competition.
indicat...
- Exam (elaborations)
- • 10 pages's •
-
Davenport Econ625 final exam•Davenport Econ625 final exam
Preview 1 out of 10 pages
Question
Question 1
In the long run, the most helpful action that a monopolistically competitive firm can take to maintain its economic profit is to
continue its efforts to differentiate its product.
raise its price.
lower its price.
do nothing, because it will inevitably experience a decline in profits
2 points 
Question 2
The four-firm concentration ratio
indicates the total profitability among the top four firms in an industry
is an indicator of the degree of monopolistic competition.
indicat...
Question
Question 1
In the long run, the most helpful action that a monopolistically competitive firm can take to maintain its economic profit is to
continue its efforts to differentiate its product.
raise its price.
lower its price.
do nothing, because it will inevitably experience a decline in profits
2 points 
Question 2
The four-firm concentration ratio
indicates the total profitability among the top four firms in an industry
is an indicator of the degree of monopolistic competition.
indicat...
- Exam (elaborations)
- • 7 pages's •
-
DAVENPORT ECON625 FINAL EXAM•DAVENPORT ECON625 FINAL EXAM
Preview 1 out of 7 pages
Question
Question 1
In the long run, the most helpful action that a monopolistically competitive firm can take to maintain its economic profit is to
continue its efforts to differentiate its product.
raise its price.
lower its price.
do nothing, because it will inevitably experience a decline in profits
2 points 
Question 2
The four-firm concentration ratio
indicates the total profitability among the top four firms in an industry
is an indicator of the degree of monopolistic competition.
indicat...