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.Management Sciences
A. the efficient output level will be produced in the long run
B. firms will only earn a normal profit
C. firms realize all economies of scale
D. firms will be producing at minimum average cost
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- Most empirical studies show that firm’s cost curves ?
- A. slope up to the right B. are U-shaped C. slope down to the right D. slope down to the right and then level off....
- A market is defined as perfectly contestable if ?
- A. entry to it is costly but exit from it is costless B. entry to it and exit from it are both costless C. entry to it and exit from it are both costly D. entry to ti costless but exist from it is costly...
- 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...
- The formula for average variable cost (AVC) is ?
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- In monopolistic competition firms achieve some degree of market power ?
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