The cosmetics industry is not considered by economists to be a good example of perfect competition because ?

Related Mcqs:

The formula for average fixed costs is ?

A. Dq/DTFC B. TFC – q C. TFC/q D. q/TFC...

Marginal revenue is ?

A. the additional profit the firms earns when it sells an additional unit of output B. the difference between total revenue and total cost C. The ratio of total revenue to quantity. D. the added revenue that a firm takes in when it increases output by one additional unit....

Assume that firms in an oligopoly are currently colluding to set price and output to maximise total industry profit. If the oligopolists are forced to stop colluding, the price charged by the oligopolists will _________ and the total output produced will __________?

A. decrease; decrease B. increase; decrease C. decrease; increase D. increase; increase...

The slope of marginal revenue curve is ?

A. always equal to one. B. half as steep as the demand curve C. the same as the slope of the demand curve D. twice as steep as the demand curve...

A market is defined as perfectly contestable if ?

A. entry to it and exit from it are both costless B. entry to it and exit from it are both costly C. entry to it costless, but exit from it is costless D. entry to it is costly, but exit from it is costless...