Market Structures

EIB – APR 2023 – L1 – Q3 – Factors of Production, Costs, and Market Structures

Identifies factors of production, fixed capital items, meaning of U-shaped marginal cost curve, market structures, features of free competition, and factors determining firm total cost.

Question

ai) Name the main factors of production. (2 marks)

aii) Name any four fixed capital items. (2 marks)

b) What does the U-shaped curve of the marginal cost (MC) indicate? (4 marks)

c) Name the main distinct market structures. (4 marks)

d) Mention two features of free competition. (4 marks)

e) Name any two factors that determine the total cost of any firm (4 marks)

(Total marks:20)

Answer

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Tags: factors of production, Fixed Capital, free competition, marginal cost curve, Market Structures, total cost determinants
Level: Level 1

Topic: Product and Output – The Firm
Series: APR 2023

BMF – Nov 2019 – L1 – SA – Q2 – The Business Environment

Question about pricing arrangements between rival firms in an industry

Question

An arrangement between the rival firms in an industry to operate the same policies on pricing is called a/an:
A. Monopoly
B. Cartel
C. Merger
D. Acquisition
E. Strategic Alliance

Answer

Find Related Questions by Tags, levels, etc.

Tags: Competition, Market Structures, Pricing Policies
Level: Level 1

Topic: The Business Environment
Series: NOV 2019

EIB – APR 2023 – L1 – Q3 – Factors of Production, Costs, and Market Structures

Identifies factors of production, fixed capital items, meaning of U-shaped marginal cost curve, market structures, features of free competition, and factors determining firm total cost.

Question

ai) Name the main factors of production. (2 marks)

aii) Name any four fixed capital items. (2 marks)

b) What does the U-shaped curve of the marginal cost (MC) indicate? (4 marks)

c) Name the main distinct market structures. (4 marks)

d) Mention two features of free competition. (4 marks)

e) Name any two factors that determine the total cost of any firm (4 marks)

(Total marks:20)

Answer

Find Related Questions by Tags, levels, etc.

Tags: factors of production, Fixed Capital, free competition, marginal cost curve, Market Structures, total cost determinants
Level: Level 1

Topic: Product and Output – The Firm
Series: APR 2023

BMF – Nov 2019 – L1 – SA – Q2 – The Business Environment

Question about pricing arrangements between rival firms in an industry

Question

An arrangement between the rival firms in an industry to operate the same policies on pricing is called a/an:
A. Monopoly
B. Cartel
C. Merger
D. Acquisition
E. Strategic Alliance

Answer

Find Related Questions by Tags, levels, etc.

Tags: Competition, Market Structures, Pricing Policies
Level: Level 1

Topic: The Business Environment
Series: NOV 2019

Question Tag: Market Structures

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EIB – APR 2023 – L1 – Q3 – Factors of Production, Costs, and Market Structures

Identifies factors of production, fixed capital items, meaning of U-shaped marginal cost curve, market structures, features of free competition, and factors determining firm total cost.

BMF – Nov 2019 – L1 – SA – Q2 – The Business Environment

Question about pricing arrangements between rival firms in an industry

EIB – APR 2023 – L1 – Q3 – Factors of Production, Costs, and Market Structures

Identifies factors of production, fixed capital items, meaning of U-shaped marginal cost curve, market structures, features of free competition, and factors determining firm total cost.

BMF – Nov 2019 – L1 – SA – Q2 – The Business Environment

Question about pricing arrangements between rival firms in an industry

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EIB – APR 2023 – L1 – Q3 – Factors of Production, Costs, and Market Structures

Identifies factors of production, fixed capital items, meaning of U-shaped marginal cost curve, market structures, features of free competition, and factors determining firm total cost.

You're reporting an error for "EIB – APR 2023 – L1 – Q3 – Factors of Production, Costs, and Market Structures"

BMF – Nov 2019 – L1 – SA – Q2 – The Business Environment

Question about pricing arrangements between rival firms in an industry

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EIB – APR 2023 – L1 – Q3 – Factors of Production, Costs, and Market Structures

Identifies factors of production, fixed capital items, meaning of U-shaped marginal cost curve, market structures, features of free competition, and factors determining firm total cost.

You're reporting an error for "EIB – APR 2023 – L1 – Q3 – Factors of Production, Costs, and Market Structures"

BMF – Nov 2019 – L1 – SA – Q2 – The Business Environment

Question about pricing arrangements between rival firms in an industry

You're reporting an error for "BMF – Nov 2019 – L1 – SA – Q2 – The Business Environment"

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