Economic theory, option 38

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Problems of Russia's competitiveness in the global market
Test items
1. The functions of the state in a market economy does not include:
a) The development and adoption of national legislation;
b) the production of public goods;
c) Minimization of transaction costs;
d) Development of a strategy of market behavior of the firm.

2. The authority to establish the ways in which the object of the property is:
a) Ownership;
b) The right of disposal;
c) The right to use.

3. If the two budget lines correspond to the same price, but different amounts of money, they will:
a) parallel to each other;
b) intersect at some point;
c) intersect at the origin;
d) perpendicular to each other.

4. perfectly competitive firm in equilibrium:
a) P = ATC-MR
b) P = ATC-MC
c) AR = MR> P
d) MC = MR = P
e) MR = P-AR

5. The functions of the Central Bank does not apply:
a) Issue of banknotes;
b) The regulation of money circulation in accordance with the needs of the economy;
c) custody of the gold reserves of the country;
d) Issuance of loans to individuals.

On the market there are two types of oligopolistic firms. Each of them has an 50% of the market. Companies adhere to a common price policy. The table presents data on prices, output and total costs.
Release Price
Income Limit
Total income of the costs marginal cost Gains

12 April 44
6 9.8 51
8 9.5 68
10 July 87
12 4108
Determine at what volume of production and the level of prices which firms maximize profits.


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