A Department Store Sells an "Astronomical Telescope" with an Objective

question 27

Multiple Choice

A department store sells an "astronomical telescope" with an objective lens of 30-cm focal length and a diameter of 5 cm,and an eyepiece lens of focal length 5 mm and diameter 4 mm.What is the magnifying power of this telescope?

• A) 6 times
• B) 150 times
• C) 60 times
• D) 12.5 times

Comprehend the concept of economies of scale and its relation to natural monopolies.

Identify scenarios where monopolies generate deadweight loss and understand efficiency implications.

Recognize the role of public companies vs private companies in market performance.

Understand the effects and limitations of mood stabilizers in the treatment of bipolar disorder.

---

Definitions:

Government Policies

Strategies and actions taken by the government to influence the economy or address societal issues.

Simplifying Assumptions

Basic assumptions made in economic models to eliminate complex factors and make analysis more manageable, even if they might not fully hold in the real world.

Economic Models

Theoretical constructs that represent economic processes by a set of variables and a set of logical and/or quantitative relationships between them.

Policies

Guidelines or principles adopted by an organization, government, or individual to guide decision-making and achieve desired outcomes.