In perfect competition ?

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...

If all firms in a market have identical cost structures and if inputs used in the production of the good in that market are readily available, then the long-run market supply curve for that good should be ?

A. downward sloping B. perfectly inelastic C. upward sloping D. perfectly elastic...

Holding all factors constant except one and increasing a variable factor is expected to lead to steadily decreased marginal product of that factor, this is an example of ?

A. decreasing returns to scale B. The law of diminishing returns C. constant returns to scale D. an inefficient production technique...

In a competitive industry each buyer and seller ?

A. is a price taker B. Producer different products C. Believes that can influence price D. Prevents the entry of competitors...

In the long-run some firms will exit the market if the price of the good offered for sale is less than ?

A. marginal revenue B. marginal cost C. average total cost D. average revenue...