A production is technique is technically efficient if ?

Related Mcqs:

The long-run market supply curve ?

A. is always more elastic than the short-run market supply curve. B. is always perfectly elastic C. has the same elasticity as the short run market supply curve D. is always less elastic than the short-run market supply curve...

The short run marginal cost curve cuts the short run total cost curve and short run average variable cost curve ?

A. At their lowest points B. When they are declining C. When they are increasing D. When marginal revenue is zero...

In the long run in perfect competition ?

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

Which of the following is not a characteristic of a competitive market ?

A. All of these answers are characteristic of a competitive market B. The are many buyers and sellers in the market C. The goods offered for sale are largely the same. D. Firms generate small but positive economic profits in the long run E. Firms can freely enter or exit the market...

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...