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Economics Mcqs

If a long run average cost curve is falling form left to right this is an example of ?

Costs, Economics Mcqs, Supply And Perfect Competition /
If a long run average cost curve is falling form left to right this is an example of ?

A. increasing returns to scale
B. decreasing returns to scale
C. constant returns to scale
D. the minimum efficient scale

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Costs, Economics Mcqs, Supply And Perfect Competition

In monopolistic competition of firms are making abnormal profit other firms will enter and ?

Costs, Economics Mcqs, Supply And Perfect Competition /
In monopolistic competition of firms are making abnormal profit other firms will enter and ?

A. The marginal cost will shift outwards
B. the demand curve will shift inwards
C. The average cost will shift downwards
D. The average variable cost will increase

In monopolistic competition of firms are making abnormal profit other firms will enter and ? Read More »

Costs, Economics Mcqs, Supply And Perfect Competition

in long-run equilibrium in a competitive market, firms are operating at ?

Costs, Economics Mcqs, Supply And Perfect Competition /
in long-run equilibrium in a competitive market, firms are operating at ?

A. the minimum of their average-total-cost curves
B. all of these answers are correct
C. their efficient scale
D. zero economic profit
E. intersection of marginal cost and marginal revenue

in long-run equilibrium in a competitive market, firms are operating at ? Read More »

Costs, Economics Mcqs, Supply And Perfect Competition

If an input necessary for production is in limited supply so that an expansion of the industry raises costs for all existing firms in the market, then the long-run market supply curve for a good could be ?

Costs, Economics Mcqs, Supply And Perfect Competition /
If an input necessary for production is in limited supply so that an expansion of the industry raises costs for all existing firms in the market, then the long-run market supply curve for a good could be ?

A. perfectly inelastic
B. perfectly elastic
C. upward slog
D. downward slog

If an input necessary for production is in limited supply so that an expansion of the industry raises costs for all existing firms in the market, then the long-run market supply curve for a good could be ? Read More »

Costs, Economics Mcqs, Supply And Perfect Competition

In the long-run some firms will exit the market if the price of the good offered for sale is less than ?

Costs, Economics Mcqs, Supply And Perfect Competition /
In the long-run some firms will exit the market if the price of the good offered for sale is less than ?

A. marginal revenue
B. marginal cost
C. average total cost
D. average revenue

In the long-run some firms will exit the market if the price of the good offered for sale is less than ? Read More »

Costs, Economics Mcqs, Supply And Perfect Competition

A grocery store should close at night if the ?

Costs, Economics Mcqs, Supply And Perfect Competition /
A grocery store should close at night if the ?

A. variable costs of staying open are less than the total revenue due to staying open.
B. total costs of staying open are less than the total revenue due to staying open
C. variable costs of staying open are greater than the total revenue due to staying open
D. total costs of staying open are greater than the total revenue due to staying open

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Costs, Economics Mcqs, Supply And Perfect Competition

In the short run, the competitive firm’s supply curve is the portion of the marginal cost curve that lies above the average variable cost curve?

Costs, Economics Mcqs, Supply And Perfect Competition /
In the short run, the competitive firm’s supply curve is the portion of the marginal cost curve that lies above the average variable cost curve?

A. Upward-slog portion of the average total cost curve
B. upward-slog portion of the average variable cost curve
C. portion of the marginal cost curve that lies above the average total cost curve.
D. entire marginal cost curve.
E. portion of the marginal-cost curve that lies above the average variable cost curve

In the short run, the competitive firm’s supply curve is the portion of the marginal cost curve that lies above the average variable cost curve? Read More »

Costs, Economics Mcqs, Supply And Perfect Competition

The competitive firm maximize profit when it produces output up to the point where ?

Costs, Economics Mcqs, Supply And Perfect Competition /
The competitive firm maximize profit when it produces output up to the point where ?

A. price equals average variable cost
B. marginal revenue equals average revenue
C. marginal cost equals total revenue
D. marginal cost equals marginal revenue

The competitive firm maximize profit when it produces output up to the point where ? Read More »

Costs, Economics Mcqs, Supply And Perfect Competition