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.Management Sciences
A. Demand more price inelastic
B. Supply more price inelastic
C. Demand more income elastic
D. Supply more income elastic
Related Mcqs:
- For a competitive firm, marginal revenue is ?
- A. total revenue divided by the quantity sold B. equal to the quantity of the good sold C. average revenue divided by the quantity sold D. equal to the price of the good sold...
- Decrease returns to scale means that _____ as ______?
- 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...
- In perfect competition ?
- A. The products firm offer is very similar B. Products are heavily differentiated C. A few firms dominate the market D. Consumer have limited information...
- In perfect competition ?
- A. Short run abnormal profits are completed away by firms leaving the industry B. Short run abnormal profits are competed away by firms entering the industry C. Short run abnormal profits are competed away by the government D. Short run abnormal profits are competed away by greater advertising...
- in long-run equilibrium in a competitive market, firms are operating at ?
- A. the minimum of their average-total-cost curves B. all of these answers are correct C. their efficient scale D. zero economic profit E. intersection of marginal cost and marginal revenue...
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