A market is defined as perfectly contestable if ?

Related Mcqs:

In the long run ?

A. all firms must make economic profits. B. there are no fixed factors of production C. a firm can vary all inputs, but it cannot change the mix of inputs it uses. D. a firm can shut down, but it cannot exit the industry...

If the ABC Typing Service is earning a rate of return greater than the return necessary for the business to continue operations, then ?

A. normal profit is zero B. total costs exceed total revenue C. total costs exceed normal profit D. the firm is earning are economic profit...

A graph showing all the combinations of capital and labor that can used to produce a given amount of output is ?

A. an indifference curves. B. an isoquant. C. an isocost line D. a production functions...

A graph showing all the combinations capital and labor available for a given total cost is the ?

A. expenditure set B. isocost line. C. budget constraint D. isoquant...

Which of the following statements best describes the outcome under monopolistic competition ?

A. It is efficient because the right amount of output is produced, but not efficient in that the output produced is produced at a cost above minimum average total cost B. It is efficient because entry is free and economic profits are eliminated in the long run. C. It is not efficient because too little … Which of the following statements best describes the outcome under monopolistic competition ?Read More...