Question: Which of these is true of treatment options for Cryptococcus gattii?
Answer Options: Treatments may need to be taken for 6 months or longer. You can treat it easily with antibiotics. Topical treatments are the most common choice. It can be hard to kill the fungi without killing the surrounding cells. Correct Answer: Treatments may need to be taken for 6 months or longer. It can be hard to kill the fungi without killing the surrounding cells.
Question: Which of these would be the best way to control the spread of the infection?
Answer Options: Tell people to avoid warm, damp woods. Put all the dogs and cats into quarantine. Make sure everyone washes their hands. Treat everyone with antibiotics. Correct Answer: Tell people to avoid warm, damp woods.
Question: Assume that in the short run a firm is producing 100 units of output, has average total costs of $200, and has average variable costs of $150. The firm’s total costs are:
Answer Options: $5,000. $20,000. $50. $15,000. Correct Answer: $20,000.
Question: Assume that in the short run a firm is producing 100 units of output, has average total costs of $200, and has average variable costs of $150. The firm’s total variable costs are:
Answer Options: $5,000. $20,000. $50. $15,000. Correct Answer: $15,000.
Question: Answer the question on the basis of the provided demand and cost data for a pure monopolist. The profit-maximizing monopolist will realize a:
Answer Options: loss of $22.25. profit of $17.50. profit of $24. Correct Answer: profit of $24.
Question: Refer to the diagram, where the numerical data show profits in millions of dollars. Beta’s profits are shown in the northeast corner and Alpha’s profits in the southwest corner of each cell. If Beta commits to a high-price policy, Alpha will gain the largest profit by:
Answer Options: adopting a high-price policy. adopting a low-price policy, but only if Beta formally agrees to do the same. adopting a low-price policy. Correct Answer: adopting a low-price policy.
Question: An industry comprising 5 firms, each with about 20 percent of the total market for a differentiated product, is an example of
Answer Options: oligopoly. pure monopoly. monopolistic competition. pure competition. Correct Answer: oligopoly.
Question: Harvey quit his job at State University, where he earned $58,000 a year. He figures his entrepreneurial talent or forgone entrepreneurial income to be $8,000 a year. To start the business, he cashed in $60,000 in bonds that earned 10 percent interest annually to buy a software company, Extreme Gaming. In the first year, the firm sold 15,000 units of software at $60 for each unit. Of the $60 per unit, $50 goes for the costs of production, packaging, marketing, employee wages and benefits, and rent on a building. The total revenues of Harvey’s firm in the first year were
Answer Options: $78,000. $150,000. $750,000. $900,000. Correct Answer: $900,000.
Question: The average total cost of 5 units of output is
Answer Options: $10.00. $69.00. $3.00. $78.00. Correct Answer: $78.00.
Question: Suppose that, when producing 40 units of output, a firm’s AVC is $26, its AFC is $4, and its MC is $32. This firm’s
Answer Options: ATC is $36. total cost is $1,200. total cost is $32. ATC is $62. Correct Answer: total cost is $1,200.
Question: Assume the price of a product sold by a purely competitive firm is $6. Given the data in the accompanying table, at what output level is total profit highest in the short run?
Correct Answer: 45.
Question: The industry characterized by these data is
Answer Options: a purely competitive industry. a pure monopoly. an oligopoly. a monopolistically competitive industry. Correct Answer: an oligopoly.
Question: Suppose that a monopolist calculates that at its present output level, marginal cost is $5.50 and marginal revenue is $4.50. The firm could increase profits by
Answer Options: increasing price and decreasing output. decreasing price and increasing output. decreasing output and leaving price unchanged. decreasing price and leaving output unchanged. Correct Answer: increasing price and decreasing output.
Question: Let us suppose Harry’s, a local supplier of chili and pizza, has the revenue and cost structure shown here.
Answer Options: Harry’s should stay open in the short run but shut down in the long run. Harry’s should stay open in the short run. Harry’s should stay open in the long run. Harry’s should shut down in the short run. Correct Answer: Harry’s should shut down in the short run.
Question: The following is cost information for the Creamy Crisp Donut Company. Entrepreneur’s potential earnings as a salaried worker = $48,000 Annual lease on building = $20,000 Annual revenue from operations = $280,000 Payments to workers = $118,000 Utilities (electricity, water, disposal) costs = $8,000 Value of entrepreneur’s talent in the next best entrepreneurial activity = $80,000 Entrepreneur’s forgone interest on personal funds used to finance the business = $6,000 Creamy Crisp’s explicit costs are
Answer Options: $152,000. $0. $280,000. $146,000. Correct Answer: $146,000.
Question: The average product when there are two workers
Answer Options: is 28. cannot be determined from the information given. is 10. is 9. Correct Answer: is 9.
Question: A pure monopolist is producing an output such that ATC = $10, P = $12, MC = $8, MR = $7, and AVC = $6. This firm is realizing
Answer Options: an economic loss that could be reduced by producing less output. an economic loss that could be reduced by producing more output. an economic profit that could be increased by producing less output. an economic profit that could be increased by producing more output. Correct Answer: an economic profit that could be increased by producing less output.
Question: The marginal product of the sixth worker is
Answer Options: 50 units of output. 30 units of output. -20 units of output. 240 units of output. Correct Answer: 30 units of output.
Question: A firm sells a product in a purely competitive market. The marginal cost of the product at the current output is $5.60 and the market price is $5.30. What should the firm do?
Answer Options: decrease output if the minimum possible average variable cost is below $5.30 increase output if the minimum possible average variable cost is above $5.30 shut down if the minimum possible average variable cost is below $5.30 increase output if the minimum possible average variable cost is below $5.30 Correct Answer: decrease output if the minimum possible average variable cost is below $5.30