Which of the following market would most closely satisfy the requirements for a competitive market ?

Related Mcqs:

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...

If an input necessary for production is in limited supply so that an expansion of the industry raises costs for all existing firms in the market, then the long-run market supply curve for a good could be ?

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