Multiple Choice
At the shut-down point,
A) P =AVC
B) TR = TVC
C) the total losses of the firm equal TFC
D) all of the above.
Correct Answer:
Verified
Correct Answer:
Verified
Q15: Marginal revenue of a firm is constant
Q16: A seller cannot influence the market price
Q17: When AR passes through minimum point of
Q18: Under perfect competition, MR curve is:<br>A)Horizontal<br>B)Vertical<br>C)Falling<br>D)Rising
Q19: The short-run supply curve of the perfectly
Q21: 'Homogenous products' is a characteristic of:<br>A)Perfect competition
Q22: There are only a few sellers under<br>A)Perfect
Q23: Monopoly means:<br>A)Single firm<br>B)No close substitutes<br>C)Barriers to entry<br>D)All
Q24: Differentiated products is a characteristic of:<br>A)Monopolistic competition
Q25: When AR is above AC, firm earns:<br>A)Supernormal