Engineering Economics What refers to the market situation in which any given product is supplied by a very large number of vendors and there is no restriction against additional vendors from entering the market? Oligopoly Monopoly Perfect competition Oligopsony Oligopoly Monopoly Perfect competition Oligopsony ANSWER DOWNLOAD EXAMIANS APP
Engineering Economics What is another term for “perfect competition”? Heterogeneous market Free-for-all competition Atomistic competition No-limit competition Heterogeneous market Free-for-all competition Atomistic competition No-limit competition ANSWER DOWNLOAD EXAMIANS APP
Engineering Economics “Under conditions of perfect competition, the price at which any given product will be supplied and purchased is the price that will result in the supply and the demand being equal.” This statement is known as the: Law of diminishing return Law of demand Law of supply and demand Law of supply Law of diminishing return Law of demand Law of supply and demand Law of supply ANSWER DOWNLOAD EXAMIANS APP
Engineering Economics An amount of P1,000 becomes P1,608.44 after 4 years compounded bimonthly. Find the nominal interest. 0.12 0.1189 0.1232 0.1208 0.12 0.1189 0.1232 0.1208 ANSWER DOWNLOAD EXAMIANS APP
Engineering Economics Duopoly is a market situation where there is/are: Many sellers and few buyers Few sellers and many buyers Few sellers and few buyers One seller and few buyers Many sellers and few buyers Few sellers and many buyers Few sellers and few buyers One seller and few buyers ANSWER DOWNLOAD EXAMIANS APP
Engineering Economics A manufacturing firm maintains one product assembly line to produce signal generators. Weekly demand for the generators is 35 units. The line operates for 7 hours per day, 5 days per week. What is the maximum production time per unit in hours required of the line to meet the demand? 1.0 hour per unit 1.6 hours per unit 1.2 hours per unit 1.4 hours per unit 1.0 hour per unit 1.6 hours per unit 1.2 hours per unit 1.4 hours per unit ANSWER DOWNLOAD EXAMIANS APP
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