If pure competition is one type of market structure, what is the other extreme with only one seller of a product or service for which there is no close competitor or substitute. In such a situation, the single seller is able to set the price for the service offered and should adjust the price to its advantage, given the demand curve.
a. Oligopoly c. Pure competition b. Monopsony d. Perfect Monopolyd
It substitutes potential competition for the active participation of many sellers.
a.Theory of contestable markets c. Monopsony b. Theory of monopolistic market d. Theory of monopsonya
Which of the following is one of the conditions for the theory stated in item 2?
a. Barriers to entry could exist.
b. Economies of scale could be present.
c.Consumers had to be willing and able to switch quickly among carriers.
d. Existing carriers had to be prevented from responding to new entrants' higher prices, assuming that the entrant possessed a higher cost structure than the incumbent.c
A cost-of-service pricing which is not good from the standpoint of optimal allocation of resources for the economy at large, because the price is above this cost and the firm is not producing and selling as much as it would if it's selling price was set equal to this cost. And this is a basic result of the firm's exercise of monopoly power.
a Average cost
c. Common cost
b.Marginal cost
d. None of the choicesa
The prices are set so that on each unit the maximum revenue is obtained regardless of the particular costs involved. That is, no service should be charged a lower price when it could bear a higher price.
a) Value-of-service pricing
c. Either a or b
b. Cost-of-service pricing
d. None of the choicesa
It is that no service should be charged a price that it will not bear when, at a lower price, the service could be purchased. This lower price will always cover the marginal cost incurred by the company in providing the service.
Value-of-service pricing
c. Either a or b
b. Cost-of-service pricing
d. None of the choicesa
High-valued products are assessed high prices for their movement, and low-valued commodities are assessed low prices.
aValue-of-service pricing
c. Either a or b
b. Cost-of-service pricing
d. None of the choicesa
A situation in which a seller sets two or more different market prices for two or more separate groups of buyers of essentially the same commodity or service.
a. Third-degree price discrimination
c. Either a or b
b. Value-of-service pricing
d. None of the choicesc
The move that initiated the original movement of the carrier's equipment and the shipper's goods.
a. Headhaul b. Backhaul c. Trip d. None of the choicesa
The system provides a rate for any commodity between any two points. It is constructed from uniform distance and product systems.
a. General rate B: Class rate c. Exception rate d. Commodity rateb
These are designed so that carriers in particular regions can depart from the product scale system for any one of many possible reasons.
a. General rate
b. Class rate
Exception rate
Commodity ratec
It directly impacts the use of the carrier's vehicle and the cost per hundredweight. The higher the product density, the greater the amount of weight that can be hauled. Conversely, the lower the product density, the lower the amount of weight that can be hauled.
a. Product density
b.Storability
c. Handling
d. Liabilitya
This factor considers the value of the product, when a product is damaged in transit, the common carrier is liable for the value of the product. Because higher-valued products pose a greater liability risk, and higher-valued products are classified higher than lower-valued products. a. Product density b. Storability c. Handling d.Liabilityd
This rate system serves as a benchmark against which specific carrier rates and contract rates are created. a: General rate b.Class rate c. Exception rate d. Commodity rateb
This shipment requires several handlings resulting to a higher rate when compared to a larger truckload.
Less-than-truckload
Less-than-truckload rate
c. Truckload rate
d. Multiple-car ratea
It generally applies to a rate designed to induce the shipper to load existing movements and equipment more fully. These special rates and above the normally shipped quantities. usually apply only to weight or units loaded over
a.Unit-train rates
b. Incentive rate
c. Per-car rates
d. Per-truck ratesb
single rate published from a point on one carrier's route to another carrier's destination, It is usually lower in total charges than the combination of the local rates because of through-movement economy
a. Local rate
b. Joint rate
c. Proportional rate
d. Differential rateb
These rates generally applies to a rate published by a carrier that faces a service time disadvantage compared to a faster carrier or mode.
a. Local rate
b. Joint rate
c. Proportional rate
d. Differential rated
This rate is common in air transportation, the carrier charges a lower rate in return for the privilege of deferring the arrival time of the shipment.
a. Contract rate b. Deferred delivery rate c. Corporate rate d. Local rateb
If pure competition is one type of market structure, what is the other extreme with only one seller of a product or service for which there is no close competitor or substitute. In such a situation, the single seller is able to set the price for the service offered and should adjust the price to its advantage, given the demand curve.
a. Oligopoly c. Pure competition b. Monopsony d. Perfect Monopolyd
It substitutes potential competition for the active participation of many sellers.
a.Theory of contestable markets c. Monopsony b. Theory of monopolistic market d. Theory of monopsonya
Which of the following is one of the conditions for the theory stated in item 2?
a. Barriers to entry could exist.
b. Economies of scale could be present.
c.Consumers had to be willing and able to switch quickly among carriers.
d. Existing carriers had to be prevented from responding to new entrants' higher prices, assuming that the entrant possessed a higher cost structure than the incumbent.c
A cost-of-service pricing which is not good from the standpoint of optimal allocation of resources for the economy at large, because the price is above this cost and the firm is not producing and selling as much as it would if it's selling price was set equal to this cost. And this is a basic result of the firm's exercise of monopoly power.
a Average cost
c. Common cost
b.Marginal cost
d. None of the choicesa
The prices are set so that on each unit the maximum revenue is obtained regardless of the particular costs involved. That is, no service should be charged a lower price when it could bear a higher price.
a) Value-of-service pricing
c. Either a or b
b. Cost-of-service pricing
d. None of the choicesa
It is that no service should be charged a price that it will not bear when, at a lower price, the service could be purchased. This lower price will always cover the marginal cost incurred by the company in providing the service.
Value-of-service pricing
c. Either a or b
b. Cost-of-service pricing
d. None of the choicesa
High-valued products are assessed high prices for their movement, and low-valued commodities are assessed low prices.
aValue-of-service pricing
c. Either a or b
b. Cost-of-service pricing
d. None of the choicesa
A situation in which a seller sets two or more different market prices for two or more separate groups of buyers of essentially the same commodity or service.
a. Third-degree price discrimination
c. Either a or b
b. Value-of-service pricing
d. None of the choicesc
The move that initiated the original movement of the carrier's equipment and the shipper's goods.
a. Headhaul b. Backhaul c. Trip d. None of the choicesa
The system provides a rate for any commodity between any two points. It is constructed from uniform distance and product systems.
a. General rate B: Class rate c. Exception rate d. Commodity rateb
These are designed so that carriers in particular regions can depart from the product scale system for any one of many possible reasons.
a. General rate
b. Class rate
Exception rate
Commodity ratec
It directly impacts the use of the carrier's vehicle and the cost per hundredweight. The higher the product density, the greater the amount of weight that can be hauled. Conversely, the lower the product density, the lower the amount of weight that can be hauled.
a. Product density
b.Storability
c. Handling
d. Liabilitya
This factor considers the value of the product, when a product is damaged in transit, the common carrier is liable for the value of the product. Because higher-valued products pose a greater liability risk, and higher-valued products are classified higher than lower-valued products. a. Product density b. Storability c. Handling d.Liabilityd
This rate system serves as a benchmark against which specific carrier rates and contract rates are created. a: General rate b.Class rate c. Exception rate d. Commodity rateb
This shipment requires several handlings resulting to a higher rate when compared to a larger truckload.
Less-than-truckload
Less-than-truckload rate
c. Truckload rate
d. Multiple-car ratea
It generally applies to a rate designed to induce the shipper to load existing movements and equipment more fully. These special rates and above the normally shipped quantities. usually apply only to weight or units loaded over
a.Unit-train rates
b. Incentive rate
c. Per-car rates
d. Per-truck ratesb
single rate published from a point on one carrier's route to another carrier's destination, It is usually lower in total charges than the combination of the local rates because of through-movement economy
a. Local rate
b. Joint rate
c. Proportional rate
d. Differential rateb
These rates generally applies to a rate published by a carrier that faces a service time disadvantage compared to a faster carrier or mode.
a. Local rate
b. Joint rate
c. Proportional rate
d. Differential rated
This rate is common in air transportation, the carrier charges a lower rate in return for the privilege of deferring the arrival time of the shipment.
a. Contract rate b. Deferred delivery rate c. Corporate rate d. Local rateb