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Supply And Perfect Competition
If a firm takes over a competitor then, according to porter’s 5 forces model ?
If a firm takes over a competitor then, according to porter’s 5 forces model ?
A. Buyer power is higherB. Supplier power is higher
C. Substitute threat is higher
D. Rivalry is lower
In monopolistic competition of firms are making abnormal profit other firms will enter and ?
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…
Which of the following is not one of the four Ps in marketing ?
Which of the following is not one of the four Ps in marketing ?
A. Product
B. Price
C. Place
D. Presence
In monopolistic competition ?
In monopolistic competition ?
A. Demand is perfectly elastic
B. Products are homogeneous
C. Marginal revenue = priceD. The marginal revenue is below the demand curve and diverges
in long-run equilibrium in a competitive market, firms are operating at ?
in long-run equilibrium in a competitive market, firms are operating at ?
A. the minimum of their average-total-cost curvesB. all of these answers are correct
C. their efficient scale
D. zero economic profit
E. intersection of…
If an input necessary for production is in limited supply so that an expansion of the industry…
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.…
In the long-run some firms will exit the market if the price of the good offered for sale is less…
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 costC. average total cost
D. average revenue
A grocery store should close at night if the ?
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 openC. variable…
In the short run, the competitive firm’s supply curve is the portion of the marginal cost curve that…
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…
The competitive firm maximize profit when it produces output up to the point where ?
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 revenueD. marginal cost equals…