1.An industry consists of 8 firms with annual sales (in $ millions) of 100, 275, 900, 600, 450, 700, 500, and 600. What is this industry's four-firm concentration ratio?
a.0.49
b.0.68
c.0/66
d.0.77
2.Which of the following is true under monopoly equilibrium?
a.P = MR
b.Profits are always positive
c.P > MC
d.Marginal Cost .> Marginal Revenue
3.Sai is a manager of a dairy that sells its product in a perfectly competitive market at the price of $50. The dairy's cost function is C = 5Q2 + 40. The profit maximizing output for the dairy is
a.5
b.4.5
c.6
d.6/5
4. Sasi is a manager of a monopoly that faces a inverse demand curve described by P = 270 - 20Q. Sasi's costs are defined as C = 5 + 30Q. The profit maximizing output for her firm is:
a.10.7
b.7.6
c.5.2
d.6.0
5.Amina is a plant manager of a power company considered to be a monopoly. The firm faces an inverse demand curve described by P = 230 - 20Q. The power company faces a cost function defined by C = 5 + 70Q. The maximizing price ($) is:
a.111
b.150
c.90
d.120
6. Pre CV-19, Saint Peter's Peacocks would host a "student rush" for a non-sell out Tuesday night basketball game. What is the possible privately motivated purpose for them to do so?
a.STP administration wants to be good citizens.
b.None of the statements is correct.
c.Students lack other recreational activities
d.Students have more elastic demand curves for sporting events