Which of the Following Bodies Are Key Regulators of Australian

question 20

Multiple Choice

Which of the following bodies are key regulators of Australian businesses?
I Australian Prudential Regulatory Authority;
II Australian Competition and Consumer Commission;
III Australian Securities Exchange;
IV Australian Securities and Investments Commission.

• A)I and IV;
• B)I,II and III;
• C)II,III and IV;
• D)I,II,III and IV.

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Definitions:

AVC

Stands for Average Variable Cost, which is the total variable cost per unit of output.

Short-Run Supply

The supply of goods that occurs when the sellers are only able to change some, but not all, conditions of production.

Diminishing Marginal Returns

A principle stating that as investment in a particular area increases, the rate of profit from that investment, after a certain point, cannot continue to increase if other inputs remain constant.

Perfectly Competitive

A perfectly competitive market is one where many buyers and sellers trade identical products so that each has no influence on the market price.