In perfect competition, there are no barriers of entry and exit.
Responda
True
False
Questão 3
Questão
Is money an example of perfect competition?
Responda
True
False
Questão 4
Questão
The supplier will cut back on production if [blank_start]marginal cost[blank_end] is greater than [blank_start]marginal revenue[blank_end].
Responda
marginal cost
marginal revenue
Questão 5
Questão
The marginal cost curve is the firm's supply curve above the point where [blank_start]price[blank_end] exceeds [blank_start]average variable cost[blank_end].
Responda
price
average variable cost
Questão 6
Questão
Profit maximization (Formula)
Responda
MC=AC
MC=AR
MC=MR
Questão 7
Questão
Productive efficiency (Formula)
Responda
MC=AR
MC=MR
MC=AC
Questão 8
Questão
Allocative efficiency (Formula)
Responda
MC=AR
MC=AC
MC=MR
Questão 9
Questão
Normal profit is minimum profit that allow current profits to stay in use.
Responda
True
False
Questão 10
Questão
Is lack of motivation one of the reason for diseconomies of scale?
Responda
Yes
No
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