Category: Costs , Supply And Perfect Competition

A. price = average cost = marginal cost
B. price = average cost = total cost
C. price = marginal cost = total cost
D. Total revenue = Total variable cost

A. Buyer power is higher
B. Supplier power is higher
C. Substitute threat is higher
D. Rivalry is lower

A. Marginal revenue = Average revenue
B. Marginal revenue = Marginal cost
C. Marginal revenue = Average cost
D. Marginal revenue = Total cost

A. The marginal cost will shift outwards
B. the demand curve will shift inwards
C. The average cost will shift downwards
D. The average variable cost will increase

A. SMC, LMC
B. SMC above SAVC, LMC above LAC
C. SMC below SAVC, LMC above LAC
D. SMC below SAVC, LMC bellow LAC

A. price is greater than short run average total cost
B. price is between short run average total cost and short run average variable cost
C. price is less than short run average variable cost
D. profit is zero

A. The price equals the total revenue
B. Firms are allocatively inefficient
C. Firms are productively efficient
D. The price equals total cost

A. The price equals the marginal revenue
B. the price equals the average variable cost
C. the fixed cost equals the variable costs
D. the price equals the total cost

A. Price equals marginal revenue
B. price is greater than marginal revenue
C. price equals total revenue
D. price equals total cost

A. Demand is perfectly elastic
B. Products are homogeneous
C. Marginal revenue = price
D. The marginal revenue is below the demand curve and diverges