For a competitive firm, its short run supply curve is ______ and its long run supply curve is _____?

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...

If a competitive firm is producing a level of output where marginal revenue exceeds marginal cost the firm could increase profit if it ?

A. decreased production B. maintained production at the current level C. temporarily shut down. D. increased production...

If a firm is not operating at the output necessary to achieve all scale economies, it has not achieved its ?

A. Efficient scale B. Average efficient scale C. Maximum efficient scale D. Minimum efficient scale...

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 revenue D. marginal cost equals marginal revenue...

If a long run average cost curve is falling form left to right this is an example of ?

A. increasing returns to scale B. decreasing returns to scale C. constant returns to scale D. the minimum efficient scale...