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Questão 1
Questão
The label on the Y axis of the perfect competition graph of a firm is Revenue and Cost
Responda
- True
- False
Questão 2
Questão
A firm will never increase prices when it's
Responda
-
Perfectly inelastic
-
Perfectly elastic
Questão 3
Questão
The graph of perfect competition of a firm is downward sloping
Responda
- True
- False
Questão 4
Questão
In perfect competition firms sell
Responda
-
Similar products
-
Different products
-
Identical products
Questão 5
Questão
When MR=MC it's at the firms maximum profit
Responda
- True
- False
Questão 6
Questão
Prices of the products the firm sells are established only by the firm
Responda
- True
- False
Questão 7
Questão
Consumers have all the information of the product being sold and it's price charged by each firm
Responda
- True
- False
Questão 8
Questão
The industry is considered to have
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-
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
Questão 9
Questão
Perfect competition= Pure competition
Responda
- True
- False
Questão 10
Questão
The graph of the industry is the same as the graph of the firm
Responda
- True
- False
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