--%>
Assignment Help - homework help

Imperfect competition-Market power of firms

As MRP < VMP in imperfect competition whenever firms encompass market power as sellers then: (i) MPPL = VMP. (ii) The price of output surpasses MFC. (iii) Monopolistic exploitation becomes essential to get profit. (iv) Imperfect competition can’t reach the equilibrium. (v) Employees are paid less than their VMP.

Find out the right answer from the above options.

   Related Questions in Microeconomics

  • Q : Middle relative income define by Census

    The Department of the Census defines middle relative income as experienced while a family: (w) has adequate income to buy the fundamental food clothing and shelter required for survival. (x) would like to enhance their personal welfar

    		•
  • Q : Effects of technology advances in

    The market prices for big plasma screen TVs are most probable to fall as an effect of: (1) Strikes by unionized workers in the electronics factories in Korea, Japan and China. (2) Seller expectations of Scarcities of plasma screen TVs. (3) Best Buy running competitors

    		•
  • Q : Technological innovations and demands

    Pharmaceutical companies have currently developed and tested drugs which reverse the affects of alcohol upon the brain only in a half hour. Such pills allow drivers to sober up before driving and to decrease the severity of hangovers. Within the past few years, variou

    		•
  • Q : Purely competitive industry in the long

    For a purely competitive industry in the long run: (i) several firms exit therefore others may earn more than normal profits. (ii) established firms reap higher profits than newer firms. (iii) all resources are fixed for the industry as an entire. (iv

    		•
  • Q : Saving in Negatively Investment Saving

    Saving is positively related to and investment is negatively related to: (1) marginal benefits and marginal costs. (2) real interest rates.  (3) returns onto alternatives. (4) expectations. (5) government surpluses and deficits.

    Q : Income Distribution and Satisfaction

    The proposition which taxing the rich to provide to the poor improves social welfare can’t be proved due to the impossibility of: (1) developing a political consensus about efficient redistribution programs. (2) the marginal utility of income di

    		•
  • Q : Income elasticity and inferior goods

    Raises in real income that causes the demands for: (i) inferior goods to shift upward and to the left. (ii) normal goods to shift upward and to the right. (iii) substitute goods to shift upward and to the right. (iv) complementary goods to decline mor

    		•
  • Q : Purchasing power of a consumers income

    The modification in purchases which results since changes in relative prices modify the purchasing power of a consumer's income is termed as: (i) Adjustment margin. (ii) Income effect. (iii) Demonstration effect. (iv) Transfer pattern. (v) Replacement

    		•
  • Q : Marginal tax rate under negative income

    The marginal tax rate upon earned income under negative income tax system demonstrated in this figure is: (1) 15 percent. (2) 20 percent. (3) 25 percent. (4) 33.3 percent. (5) 50 percent.

    Q : Harmness of price discrimination Price

    Price discrimination generally harms: (w) all consumers and benefits firms along with market power. (x) all firms along with market power and benefits all consumers. (y) some consumers, when helping sellers and several other consumers. (z) all sellers

    		•