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Question : 41) If perfectly competitive firms making an economic profit, the : 1238771

Economics

 

41) If perfectly competitive firms are making an economic profit, the economic profit

A) attracts entry by more firms, which lowers the price.

B) can be earned both in the short run and the long run.

C) is less than the normal profit.

D) leads to a decrease in market demand.

E) generally leads to firms exiting as they seek higher profit in other markets.

 

42) If perfectly competitive firms are making an economic profit, then

A) the market is in its long-run equilibrium.

B) new firms enter the market and the equilibrium profit of the firms already in the market decreases.

C) new firms enter the market and the equilibrium profit of the firms already in the market increases.

D) firms exit the market and the economic profit of the surviving firms in the market decreases.

E) firms exit the market and the economic profit of the surviving firms in the market increases.

43) As a result of firms leaving the perfectly competitive frozen yogurt market in the early 2000s, the market

A) supply curve shifted leftward.

B) supply curve did not change.

C) demand curve shifted rightward.

D) supply curve shifted rightward.

E) demand curve shifted leftward.

 

44) Firms exit a competitive market when they incur an economic loss. In the long run, this exit means that the economic losses of the surviving firms

A) increase.

B) decrease until they equal zero.

C) decrease until economic profits are earned.

D) do not change.

E) might change but more information is needed about what happens to the price of the good as the firms exit.

 

45) If firms in a perfectly competitive market are incurring economic losses, then as time passes firms ________ and the market ________.

A) enter; demand curve shifts leftward

B) enter; supply curve shifts rightward

C) exit; demand curve shifts leftward

D) exit; supply curve shifts rightward

E) exit; supply curve shifts leftward

46) In the long run, a firm in a perfectly competitive market will

A) make zero economic profit, so that its owners earn a normal profit.

B) make zero normal profit but its owners will make an economic profit.

C) remove all competitors and become a monopolistically competitive firm.

D) incur an economic normal loss but not earn a positive economic profit.

E) remove all competitors and become a monopoly.

 

47) Technological change brings a ________ to firms that adopt the new technology.

A) permanent economic profit

B) temporary economic profit

C) permanent economic loss

D) temporary economic loss

E) temporary normal profit

 

48) Perfect competition ________ an efficient outcome because ________.

A) achieves; total surplus is maximized

B) achieves; marginal benefit equals marginal cost

C) does not achieve; firms do not get to choose their price

D) does not achieve; firms produce goods with perfect substitutes

E) Both A and B are correct.

 

49) In a perfectly competitive market, a(n) ________ occurs because ________.

A) efficient outcome; total surplus is maximized

B) deadweight loss; firms minimize average minimum cost

C) efficient outcome; the fair rules condition is met

D) deadweight loss; firms must be price takers

E) deadweight loss; total surplus is minimized

50) Perfect competition ________ a fair outcome ________.

A) achieves; because both the fair rules and fair results conditions are met

B) achieves; because total surplus is maximized

C) does not achieve; because entrepreneurs only earn a normal profit

D) does not achieve; because firms must be price takers

E) may achieve; if average total costs are minimized

 

 

 

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July 1, 2023
    

Primary Discussion Response is due by Wednesday (11:59:59pm Central), Peer Responses are due by Sunday (11:59:59pm Central).

Primary Task Response: Within the Discussion Board area, write 300–500 words that respond to the following questions with your thoughts, ideas, and comments. This will be the foundation for future discussions by your classmates. Be substantive and clear, and use examples to reinforce your ideas.

Interest groups play a significant role in contemporary American politics, on a wide range of public policy issues, from healthcare (Affordable Care Act, for example) to gun control (the NRA is a well-known example), and from financial services regulation to regulating food production.

For this discussion board, choose an interest group that appeals to you and then identify a public policy issue that your selected interest group is working on impacting. In addition, include the following information:

  • What types of activities are conducted by your interest group? Provide examples of activities undertaken by the group within the last 12 months. Activities can include lobbying, television or radio spots, media spots, rallies or other activities. Also, if available, provide links to any news articles about the organization’s activities or press releases from the organization or other articles from the organization’s website for your classmates’ reference.
  • How is your chosen interest group connected to the average citizen, if at all? Provide examples of average citizens’ involvement in your chosen interest group, if any. If your chosen interest group rarely or does not interact with the average citizen, please discuss how the work of your chosen interest group indirectly impacts the average citizen, if at all.
  • Do you believe that interest groups do, or have the ability to, promote corruption in government? Explain your position. If they do or have the potential to do so, why do you believe so? If not, what do you think prevents them from corrupting government? Support your position with specific examples.

Responses to Other Students: Respond to at least 2 of your fellow classmates with a reply of at least 100 words about their primary task response. To help you with your discussion, please consider the following questions:

  • What did you learn from your classmate's posting?
  • What additional questions do you have after reading the posting?
  • What clarification do you need regarding the posting?
  • What differences or similarities do you see between your posting and other classmates' postings?

 

 

 

 

 

Individual project

 

Weekly tasks or assignments (Individual Projects) will be due by Monday and late submissions will be assigned a late penalty in accordance with the late penalty policy found in the syllabus. NOTE: All submission posting times are based on midnight Central Time.

PHASE 3 OUTLINE - THIS PROJECT MUST BE SUBMITTED IN OUTLINE FORM

After researching your topic and finding reliable sources, the next step is to use the information you have found to develop a working outline. In this assignment, you will build from your annotated bibliography. Using the same topic you researched in phase 2, you will plan and outline a Problem/Solution essay. You will use this outline to create a rough draft.

Before creating your first draft of the Problem/Solution essay, you will create a double-spaced outline that plans out your Problem/Solution essay in process.

The outline should begin with your Thesis Statement and introduce the Problem/Issue.

A well-integrated outline will include evidence of outside research integration, including specific statistics and data. Avoid using single word descriptions.  The stronger outline will be the more detailed and developed outline. 

Your Outline should contain the following:

  • A thesis statement
  • Topic sentences
  • Supporting information in the form of quotes or paraphrased passages
  • A properly formatted reference page with at least two reliable sources
  • Proper in text citations

In addition to these structural guidelines your individual project should also contain the following:

  • A cover page
  • Headers
  • Page numbers

Be double-spaced using 12 point, Times New Roman, Arial, or Courier fonts. Please submit your assignment.

default image
July 1, 2023
    

Primary Discussion Response is due by Wednesday (11:59:59pm Central), Peer Responses are due by Sunday (11:59:59pm Central).

Primary Task Response: Within the Discussion Board area, write 300–500 words that respond to the following questions with your thoughts, ideas, and comments. This will be the foundation for future discussions by your classmates. Be substantive and clear, and use examples to reinforce your ideas.

Interest groups play a significant role in contemporary American politics, on a wide range of public policy issues, from healthcare (Affordable Care Act, for example) to gun control (the NRA is a well-known example), and from financial services regulation to regulating food production.

For this discussion board, choose an interest group that appeals to you and then identify a public policy issue that your selected interest group is working on impacting. In addition, include the following information:

  • What types of activities are conducted by your interest group? Provide examples of activities undertaken by the group within the last 12 months. Activities can include lobbying, television or radio spots, media spots, rallies or other activities. Also, if available, provide links to any news articles about the organization’s activities or press releases from the organization or other articles from the organization’s website for your classmates’ reference.
  • How is your chosen interest group connected to the average citizen, if at all? Provide examples of average citizens’ involvement in your chosen interest group, if any. If your chosen interest group rarely or does not interact with the average citizen, please discuss how the work of your chosen interest group indirectly impacts the average citizen, if at all.
  • Do you believe that interest groups do, or have the ability to, promote corruption in government? Explain your position. If they do or have the potential to do so, why do you believe so? If not, what do you think prevents them from corrupting government? Support your position with specific examples.

Responses to Other Students: Respond to at least 2 of your fellow classmates with a reply of at least 100 words about their primary task response. To help you with your discussion, please consider the following questions:

  • What did you learn from your classmate's posting?
  • What additional questions do you have after reading the posting?
  • What clarification do you need regarding the posting?
  • What differences or similarities do you see between your posting and other classmates' postings?

 

 

 

 

 

Individual project

 

Weekly tasks or assignments (Individual Projects) will be due by Monday and late submissions will be assigned a late penalty in accordance with the late penalty policy found in the syllabus. NOTE: All submission posting times are based on midnight Central Time.

PHASE 3 OUTLINE - THIS PROJECT MUST BE SUBMITTED IN OUTLINE FORM

After researching your topic and finding reliable sources, the next step is to use the information you have found to develop a working outline. In this assignment, you will build from your annotated bibliography. Using the same topic you researched in phase 2, you will plan and outline a Problem/Solution essay. You will use this outline to create a rough draft.

Before creating your first draft of the Problem/Solution essay, you will create a double-spaced outline that plans out your Problem/Solution essay in process.

The outline should begin with your Thesis Statement and introduce the Problem/Issue.

A well-integrated outline will include evidence of outside research integration, including specific statistics and data. Avoid using single word descriptions.  The stronger outline will be the more detailed and developed outline. 

Your Outline should contain the following:

  • A thesis statement
  • Topic sentences
  • Supporting information in the form of quotes or paraphrased passages
  • A properly formatted reference page with at least two reliable sources
  • Proper in text citations

In addition to these structural guidelines your individual project should also contain the following:

  • A cover page
  • Headers
  • Page numbers

Be double-spaced using 12 point, Times New Roman, Arial, or Courier fonts. Please submit your assignment.

default image
July 1, 2023
    

Primary Discussion Response is due by Wednesday (11:59:59pm Central), Peer Responses are due by Sunday (11:59:59pm Central).

Primary Task Response: Within the Discussion Board area, write 300–500 words that respond to the following questions with your thoughts, ideas, and comments. This will be the foundation for future discussions by your classmates. Be substantive and clear, and use examples to reinforce your ideas.

Interest groups play a significant role in contemporary American politics, on a wide range of public policy issues, from healthcare (Affordable Care Act, for example) to gun control (the NRA is a well-known example), and from financial services regulation to regulating food production.

For this discussion board, choose an interest group that appeals to you and then identify a public policy issue that your selected interest group is working on impacting. In addition, include the following information:

  • What types of activities are conducted by your interest group? Provide examples of activities undertaken by the group within the last 12 months. Activities can include lobbying, television or radio spots, media spots, rallies or other activities. Also, if available, provide links to any news articles about the organization’s activities or press releases from the organization or other articles from the organization’s website for your classmates’ reference.
  • How is your chosen interest group connected to the average citizen, if at all? Provide examples of average citizens’ involvement in your chosen interest group, if any. If your chosen interest group rarely or does not interact with the average citizen, please discuss how the work of your chosen interest group indirectly impacts the average citizen, if at all.
  • Do you believe that interest groups do, or have the ability to, promote corruption in government? Explain your position. If they do or have the potential to do so, why do you believe so? If not, what do you think prevents them from corrupting government? Support your position with specific examples.

Responses to Other Students: Respond to at least 2 of your fellow classmates with a reply of at least 100 words about their primary task response. To help you with your discussion, please consider the following questions:

  • What did you learn from your classmate's posting?
  • What additional questions do you have after reading the posting?
  • What clarification do you need regarding the posting?
  • What differences or similarities do you see between your posting and other classmates' postings?

 

 

 

 

 

Individual project

 

Weekly tasks or assignments (Individual Projects) will be due by Monday and late submissions will be assigned a late penalty in accordance with the late penalty policy found in the syllabus. NOTE: All submission posting times are based on midnight Central Time.

PHASE 3 OUTLINE - THIS PROJECT MUST BE SUBMITTED IN OUTLINE FORM

After researching your topic and finding reliable sources, the next step is to use the information you have found to develop a working outline. In this assignment, you will build from your annotated bibliography. Using the same topic you researched in phase 2, you will plan and outline a Problem/Solution essay. You will use this outline to create a rough draft.

Before creating your first draft of the Problem/Solution essay, you will create a double-spaced outline that plans out your Problem/Solution essay in process.

The outline should begin with your Thesis Statement and introduce the Problem/Issue.

A well-integrated outline will include evidence of outside research integration, including specific statistics and data. Avoid using single word descriptions.  The stronger outline will be the more detailed and developed outline. 

Your Outline should contain the following:

  • A thesis statement
  • Topic sentences
  • Supporting information in the form of quotes or paraphrased passages
  • A properly formatted reference page with at least two reliable sources
  • Proper in text citations

In addition to these structural guidelines your individual project should also contain the following:

  • A cover page
  • Headers
  • Page numbers

Be double-spaced using 12 point, Times New Roman, Arial, or Courier fonts. Please submit your assignment.

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