A. slope up to the right
B. are U-shaped
C. slope down to the right
D. slope down to the right and then level off.
Most empirical studies show that firm’s cost curves ? Read More »
Economics Mcqs, Profit Maximizing Under Perfect Competition And Monopoly A. average costs to remain constant
B. average costs to decrease
C. average costs to increase
D. marginal costs to increase
A. If TP is declining, then AP is negative
B. If AP = MP, then total product is at a maximum.
C. If AP exceeds MP then AP is falling
D. If AP is at a maximum, then MP is also,
A. at least one fixed factor of production and firms neither leaving nor entering the industry.
B. no variable inputs – that is, all of the factors of production are fixed
C. all inputs being variable
D. a period where the law of diminishing returns does not hold
The short run, as economists use the phrase, in characterized by ? Read More »
Economics Mcqs, Profit Maximizing Under Perfect Competition And Monopoly A. The franchiser’s fee that a restaurant must pay to the national restaurant chain
B. The payroll taxes that are paid on employee wages.
C. The monthly rent on office space that it leased for a year
D. The interest payments made on loans.
Which of the following is most likely to be a variable cost for a firm ? Read More »
Economics Mcqs, Profit Maximizing Under Perfect Competition And Monopoly A. marginal revenue and marginal cost.
B. total revenue and total cost
C. total revenue and marginal cost
D. marginal revenue and average cost
Profit-maximizing firms want to maximize the difference between ? Read More »
Economics Mcqs, Profit Maximizing Under Perfect Competition And Monopoly