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Quiz

lecture 5

Mireia Márquez 10 Fragen

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Fragen in diesem Quiz (10)

  1. 1Applying the linear city model: Firm 1 sets a p=6 and firm 2 sets a p=5. Transportation cost per unit of distance are 2. Find the distance at which a consumer would be indifferent between buying from firm 1 and firm 2:
    1. A1/5
    2. B1/4
    3. C3/4
    4. D2/5
  2. 2The strategic effect of location costs can be described as:
    1. AThe closer your product is to your competitor’s, for a given set of prices, the higher your demand will be.
    2. BThe closer your product is to your competitor’s, for a given set of prices, the lower your demand will be.
    3. CThe closer your product is to your competitor’s, the more intense will be price competition and thus the lower your price will be.
    4. DThe farther your product is to your competitor’s, the more intense will be price competition and thus the lower your price will be.
  3. 3The scope of differentiation in the Salop model is infinite.
    1. ARichtig
    2. BFalsch
  4. 4Apply the circular city model:
    1. AThe higher the transportation unit cost, the less firms would operate in the market.
    2. BThe lower fixed costs are, the less firms would operate in the market.
    3. CThe transportation unit cost affects the optimal number of firms that operate in the market.
    4. DNone of above
  5. 5If we are talking about vertical differentiation:
    1. A"s" means level of quality of a product and "v" means the level of appreciation consumers have towards quality
    2. B"v" means level of quality of the product and "s" means the level of appreciation consumers have towards quality
    3. C"s" applies to the gross benefit consumers obtain by purchasing and "v" means the level of appreciation consumers have towards quality
    4. D"v" applies to the gross benefit consumers obtain by purchasing and "s" means the level of appreciation consumers have towards quality
  6. 6Perfect price discrimination maximizes total welfare.
    1. ARichtig
    2. BFalsch
  7. 7Which of these statements is NOT a solution for arbitrage?
    1. AIndividual services
    2. BLarge transportation costs
    3. CQuality distortion
    4. DProtection by regulation
  8. 8Product bunding is a second-degree price discrimination tool and implies that products have to be related.
    1. ARichtig
    2. BFalsch
  9. 9Second-degree price discrimination may imply
    1. Aseparate consumers based on same observable characteristics
    2. Btotal welfare for the market
    3. Carbitrage problems
    4. Ddisort the quality for a certain type of consumers
  10. 10Vertical differentiation implies
    1. Asymmetric profits
    2. Ba chain of production processes from raw materials to finished good
    3. Cwhen all firms set the same price, one of them attracts all demand
    4. DBertrand paradox

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Quiz am lecture 5, erstellt von Mireia Márquez am 18/06/2022.
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