Question : 31) A firm in monopolistic competition similar to a firm : 1238842

Economics

31) A firm in monopolistic competition is similar to a firm in perfect competition because they both

A) can make only zero economic profit in the long run.

B) can make only zero economic profit in the short run.

C) maximize their profits by producing where P = MR = MC.

D) Both answers A and C are correct.

E) Both answers B and C are correct.

32) The primary reason why monopolistically competitive firms cannot make an economic profit in the long run is because

A) there are barriers to entry.

B) there is freedom of entry.

C) the antitrust laws prevent profit from increasing.

D) recessions occur.

E) they collude to make a normal profit.

33) In monopolistic competition, the entry of new firms

A) shifts existing firms’ demand curves rightward.

B) shifts existing firms’ demand curves leftward.

C) only results in a movement along the existing firms’ demand curves.

D) has no effect on the existing firms’ demand curves.

E) shifts existing firms’ supply curves rightward.

34) When a monopolistically competitive firm’s demand curve shifts leftward, what happens to its marginal revenue curve?

A) Nothing, the marginal revenue curve is unchanged.

B) It disappears.

C) It shifts rightward.

D) It shifts leftward.

E) None of the above is correct because the effect on the marginal revenue curve depends on whether the demand was initially elastic or inelastic.

35) If firms in monopolistic competition are making economic profits, then

A) they can expect to earn the profits indefinitely.

B) new rivals enter the industry and the demand for any seller’s good decreases.

C) the market demand becomes more inelastic.

D) the industry is in long-run equilibrium.

E) new rivals enter the industry and the demand for any seller’s good increases.

36) Nike is a firm in monopolistic competition. If Nike is making an economic profit from new cross-training shoe, over time the demand for these shoes

A) increases as new firms enter the market.

B) decreases as new firms enter the market.

C) does not change as new firms enter the market.

D) decreases as firms exit the market.

E) increases as firms exit the market.

37) In the long run, firms in monopolistic competition make zero economic profit. When firms make zero economic profit, in the long run they exit the industry.

A) The first sentence is correct and the second sentence is incorrect.

B) The first sentence is incorrect and the second sentence is correct.

C) Both sentences are correct.

D) Both sentences are incorrect.

E) More information about the presence or absence of barriers to entry and exit is needed to determine if the statements are true or false.

38) When firms in monopolistic competition incur an economic loss, some firms will

A) enter the industry and produce more products.

B) exit the industry, and demand will increase for the firms that remain.

C) exit the industry, and demand will decrease for the firms that remain.

D) enter the industry, and demand will become more elastic for the original firms.

E) exit the industry and other firms will enter.

39) When firms in monopolistic competition are making an economic profit, firms will

A) enter the industry, and demand will increase for the original firms.

B) exit the industry, and demand will increase for the firms that remain.

C) exit the industry, and demand will decrease for the firms that remain.

D) enter the industry, and demand will decrease for the original firms.

E) enter the industry and then will exit the industry.

40) At a long-run equilibrium in monopolistic competition, price equals

A) average total cost.

B) marginal cost but not marginal revenue.

C) marginal revenue but not marginal cost.

D) zero.

E) marginal revenue and marginal cost.

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July 1, 2023

MBACybersecurityRiskManagementPaperRequirementandGradingRubricforWrittenAssignments.pdf

Seton Hill University MBA Cybersecurity Risk Management
Written Assignments Requirements and Grading Rubric

Written Assignments Requirements
● Discussion Posts and Replies

○ Participate in online forums as you would in constructive, face-to-face discussions.
○ Postings should continue a conversation and provide avenues for additional continuous dialogue.
○ Do not post “I agree,” or similar, statements. Expand by bringing in related examples, concepts, and experiences.

■ Posts
● 250 words minimum

■ Replies
● At least 1 student’s post
● 150 words minimum

● Papers
○ 3-5 page length (including title page, does not include reference page)
○ Fonts: 11-point Calibri, 11-point Arial, 10-point Lucida Sans Unicode, 12-point Times New Roman, 11-point Georgia, 10-point

Computer Modern
○ Your paper should include four major sections:

■ Title Page (included in 3-5 pages)
● Your Name
● Class Name
● Date
● Title of Assignment

■ Abstract
● Summary of assignment in 3-5 sentences

■ Main Body
● Supporting details and paragraphs

■ References (not included in 3-5 pages)
● APA Formatting and Style
● https://owl.purdue.edu/owl/research_and_citation/apa_style/apa_formatting_and_style_guide/reference_list_autho

r_authors.html
● Grading Rubric for Written Assignments

Grading Rubric

Criteria Inadequate=D
(Below Standard)

Adequate=C
(Meets Standard)

Above Average=B
(Exceeds Standard)

Exemplary=A
(Far Exceeds Standard)

Organization Writing lacks logical
organization. It shows some
coherence but ideas lack
unity. Serious errors.

Writing is coherent and
logically organized.
Some points remain
misplaced and stray
from the topic.
Transitions evident but
not used throughout the
essay.

Writing is coherent and
logically organized with
transitions used
between ideas and
paragraphs to create
coherence. Overall unity
of ideas is present.

Writing shows a high degree of
attention to logic and reasoning
of points. Unity clearly leads the
reader to the
conclusion and stirs thought
regarding the topic.

Topic focus The topic is not clearly
defined. The topic is too
broad for the

The topic is too broad
for the scope of this
assignment.

The topic is focused but
lacks direction. The
paper is about a
specific topic but the
writer has not
established a position.

The topic is focused narrowly
enough for the scope of this
assignment. A thesis statement
provides direction for the paper,
either by statement of a position
or hypothesis.

Depth of discussion
and focus

Cursory discussion in all the
sections of the paper or
brief discussion in only a
few
sections.

The writer has omitted
pertinent content or
content runs-on
excessively. Quotations
from others outweigh
the writer’s own ideas
excessively.

In-depth discussion &
elaboration in most
sections of the paper.

In-depth discussion &
elaboration in all sections of the
paper

Level of Content Shows some thinking and
reasoning but most ideas
are underdeveloped and
unoriginal.

Content indicates
thinking and reasoning
applied with original
thought on a few ideas.

Content indicates
original thinking and
develops ideas with
sufficient and firm
evidence.

Content indicates synthesis of
ideas, in depth analysis and
evidence, original thought and
support for the topic.

Style Mostly in elementary form
with little or no variety in
sentence structure, diction,
rhetorical devices or
emphasis.

Approaches college
level usage of some
variety in sentence
patterns, diction, and
rhetorical devices.

Attains college level
style; tone is
appropriate and
rhetorical devices used
to enhance content;
sentence variety used
effectively.

Shows outstanding style going
beyond usual college level;
rhetorical devices and tone
used effectively; creative use of
sentence structure and
coordination

Cohesiveness Does not tie together
information. Paper does not
flow and appears to be
created from disparate
issues. Headings are
necessary to link concepts.
Writing does not
demonstrate understanding
any relationships

Sometimes ties together
information from all
sources. Paper does
not flow -
disjointedness is
apparent. Author's
writing does not
demonstrate an
understanding of the
relationship among
material obtained from
all sources.

For the most part, ties
together information
from all sources. Paper
flows with only some
disjointedness. Author's
writing demonstrates an
understanding of the
relationship among
material obtained from
all sources.

Ties together information from all
sources. Paper flows from one
issue to the next without the
need for headings. Author's
writing demonstrates an
understanding of the relationship
among material obtained from
all sources.

Sources Not all web sites utilized are
credible, and/or sources are
not current/scientific

All web sites utilized are
credible, and/or sources
are not
current/scientific

All web sites utilized are
authoritative, and/or
sources are current/not
scientific

All web sites utilized are
authoritative, and/or sources
are current and scientific

Grammar &
Mechanics

Spelling, punctuation, and
grammatical errors create
distraction, making reading
difficult; fragments, comma
splices, run-ons evident.
Errors are frequent.

Most spelling,
punctuation, and
grammar are correct
allowing the reader to
progress through the
essay. Some errors
remain.

Essay has few spelling,
punctuation, and
grammatical errors
allowing the reader to
follow ideas clearly. Very
few fragments or
run-ons.

Essay is free of distracting
spelling, punctuation, and
grammatical errors; absent of
fragments, comma splices, and
run-ons.