For perfect competition to work there must be ?

Related Mcqs:

Firms in perfect competition face a?

A. perfectly elastic demand curve B. perfectly inelastic demand curve C. perfectly elastic supply curve D. perfectly inelastic supply curve...

In monopolistic competition ?

A. Firms face a perfectly elastic demand curve B. All products are homogeneous C. Firms make normal profits in the long run D. There are barriers to entry to prevent entry...

A competitive firm demand curve is ?

A. Horizontal B. vertical C. downward sloping D. elastic...

In the short run, the competitive firm’s supply curve is the portion of the marginal cost curve that lies above the average variable cost curve?

A. Upward-sloping portion of the average total cost curve B. upward-sloping portion of the average variable cost curve C. portion of the marginal cost curve that lies above the average total cost curve. D. entire marginal cost curve. E. portion of the marginal-cost curve that lies above the average variable cost curve...

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...