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.Management Sciences
A. entry to it is costly but exit from it is costless
B. entry to it and exit from it are both costless
C. entry to it and exit from it are both costly
D. entry to ti costless but exist from it is costly
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- The formula for average fixed costs is ?
- A. Dq/DTFC B. TFC – q C. TFC/q D. q/TFC...
- An industry that realizes such large economies of scale in producing its product that single-firm production of that good or service is most efficient is called ?
- A. a fixed cost monopoly B. a natural monopoly C. a government franchise monopoly D. a economies of scale monopoly...
- Which statement is False ?
- A. Fixed costs are zero if the firms is producing nothing. B. Fixed costs are the difference between total costs and total variable costs C. There are no fixed costs in the long run D. Fixed costs do not depend on the firm’s level of output...
- Market power is ?
- A. a firm’s ability to monopolies a market completely. B. a firm’s ability to raise price without losing all demand for its product C. a firm’s ability to sell any amount of output it desires at the market-determined price. D. a firm’s ability to charge any price it likes...
- A firm in a monopolistically competitive industry ?
- A. sells a fixed amount of output regardless of price. B. must raise price to sell more output C. can sell an infinite amount of output at the market-determined price D. must lower price to sell more output....
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