Multiple Choice
When perfect competition prevails,which characteristic of firms are we likely to observe?
A) None of them ever has diminishing marginal returns.
B) They all try to operate where price equals average variable cost.
C) They all try to operate where price equals total cost.
D) They are all price takers.
Correct Answer:
Verified
Correct Answer:
Verified
Q78: Use the following to answer question: <img
Q79: Use the following to answer question: <img
Q80: Use the following to answer question: <img
Q81: Use the following to answer question: <img
Q82: The short-run industry supply curve is the
Q84: Use the following to answer question: <img
Q85: Use the following to answer question: <img
Q86: Which statement is NOT an assumption that
Q87: Which statement is TRUE?<br>A)If price falls below
Q88: In the long run,when economic profit is