A. Horizontal
B. vertical
C. downward slog
D. elastic
A competitive firm demand curve is ? Read More »
Costs, Economics Mcqs, Supply And Perfect Competition A. many buyers and sellers
B. a standard product
C. free entry and exit
D. perfect information
E. all of the above
For perfect competition to work there must be ? Read More »
Costs, Economics Mcqs, Supply And Perfect Competition A. is a price taker
B. Producer different products
C. Believes that can influence price
D. Prevents the entry of competitors
In a competitive industry each buyer and seller ? Read More »
Costs, Economics Mcqs, Supply And Perfect Competition A. decreasing returns to scale
B. The law of diminishing returns
C. constant returns to scale
D. an inefficient production technique
A. At their lowest points
B. When they are declining
C. When they are increasing
D. When marginal revenue is zero
A. long run average cost is lowest
B. marginal revenue equals output
C. marginal revenue equals long run marginal cost
D. marginal cost equals output
The firms long run output decision will be where ? Read More »
Costs, Economics Mcqs, Supply And Perfect Competition A. Efficient scale
B. Average efficient scale
C. Maximum efficient scale
D. Minimum efficient scale
A. Short run marginal cost rises, output rises
B. long run marginal cost rises, output rises
C. Short run average cost rises, output rises
D. long run average cost rises, output rises
Decrease returns to scale means that _____ as ______? Read More »
Costs, Economics Mcqs, Supply And Perfect Competition A. output is maximized
B. inputs are minimized
C. there is no way to make a given output using less of one input and no more of the other inputs
D. Costs are minimized
A production is technique is technically efficient if ? Read More »
Costs, Economics Mcqs, Supply And Perfect Competition A. Unique Selling Proposition
B. Underlying Sales Proposition
C. Unit Sales Point
D. Under Sales Procedure
In marketing “USP” stands for ? Read More »
Costs, Economics Mcqs, Supply And Perfect Competition