Recall the Application about the merger of Sirius Satellite Radio and XM Satellite Radio to answer the following question(s).Recall the Application. One might expect no more firms to enter after the market consolidated into one firm because:
A. the fixed cost of setting up a company system and acquiring programing is very high.
B. the marginal cost of adding addition subscribers if very high.
C. demand is very elastic.
D. All of these
Answer: A
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Assume that the market for cell phones comprises two buyers and two sellers. The following table shows the demand and supply of cell phones at different prices. Using the information in the table, determine the market equilibrium price and quantity
Price ($) Cell Phones Demanded (Buyer 1 ) Cell Phones Demanded (Buyer 2 ) 10 100 80 20 80 65 30 75 50 40 60 45 50 30 30 60 20 22 Price ($) Cell Phones Supplied (Seller 1 ) Cell Phones Supplied (Seller 2 ) 10 10 25 20 30 40 30 50 45 40 55 50 50 65 60 60 75 70
A market which consists of many sellers and only one buyer is called a:
A. monopsony. B. monopoly. C. oligopoly. D. monopolistic competitor.
Protectionist policies include all of the following EXCEPT
A. tariffs. B. currency appreciation. C. regulatory barriers. D. quotas.
Which would be an example of perfect price discrimination?
A. When movies charge different prices at different times B. When airlines charge different prices for seats on the same flight C. When doctors charge rich and poor patients different prices for the same medical services D. None of the choices are examples of perfect price discrimination.