4166879
Frage 1
Frage
The label on the Y axis of the perfect competition graph of a firm is Revenue and Cost
Antworten
- True
- False
Frage 2
Frage
A firm will never increase prices when it's
Antworten
-
Perfectly inelastic
-
Perfectly elastic
Frage 3
Frage
The graph of perfect competition of a firm is downward sloping
Antworten
- True
- False
Frage 4
Frage
In perfect competition firms sell
Antworten
-
Similar products
-
Different products
-
Identical products
Frage 5
Frage
When MR=MC it's at the firms maximum profit
Antworten
- True
- False
Frage 6
Frage
Prices of the products the firm sells are established only by the firm
Antworten
- True
- False
Frage 7
Frage
Consumers have all the information of the product being sold and it's price charged by each firm
Antworten
- True
- False
Frage 8
Frage
The industry is considered to have
Antworten
-
Freedom of exit and entry of the product
-
Only two firms that compete with different products
-
Only two firms that compete with similar products
-
Controlled exit and entry of the product
Frage 9
Frage
Perfect competition= Pure competition
Antworten
- True
- False
Frage 10
Frage
The graph of the industry is the same as the graph of the firm
Antworten
- True
- False
Möchten Sie mit GoConqr kostenlos Ihre eigenen Quiz erstellen? eigenen Mehr erfahren.