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Economic losses in an industry generate competitive pressures which cause: (1) industry output to fall. (2) market price to decrease. (3) each firm’s short-run output to increase. (4) rising cos
For a purely competitive industry in the long run: (i) several firms exit therefore others may earn more than normal profits. (ii) established firms reap higher profits than newer firms. (iii) all res
When firms exit a declining competitive industry, in that case surviving firms will: (i) reduce their outputs and prices. (ii) experience higher prices and profits. (iii) automate to adjust to lower w
Expectations of long-run economic losses within a competitive industry as: (1) inevitably follow “cut throat” pricing policies. (2) cause firms to leave the industry. (3) increase each fir
When economic losses are widespread within a purely competitive industry, in that case long-run competitive pressures tend to cause: (i) accelerating economic losses. (ii) prices to fall while firms l
Within a competitive industry into the long run: (w) economic profits are common. (x) existing firms wither in growing industries. (y) economic profits induce new firms to enter an industry. (z) accou
At any point on short-run supply curve of a competitive industry, every firm produces at the similar: (w) rate of technological equilibrium. (x) average cost. (y) marginal cost. (z) positive level of
Short-run market supply curve of a competitive industry is derived by summing all the firms’: (1) average cost curves vertically. (2) short-run supply curves horizontally. (3) production capacit
Short-run supply curve of a purely competitive firm is the positively sloped segment of: (a) its long run sales revenue curve. (b) its marginal fixed cost curve. (c) its average profits curve. (d) its
For a competitive firm the short-run supply curve is the: (w) marginal cost curve which is above the average total cost curve. (x) marginal cost curve which is above the average variable cost curve. (
When the minimum average variable cost exceeds price, in that case a firm produces: (w) where MR = MC into the short run. (x) only in the long run. (y) in the short run although shuts down in the long
When MR exceeds both marginal costs and average variable costs at the recent rate of production, in that case a profit-maximizing firm will: (w) increase output. (x) decrease output. (y) have no incen
The minimum revenue which will induce a firm to produce a specified output in place of shutting down into the short run is the: (a) maximum such consumers are willing to pay for that output. (b) total
A purely competitive firm will turn out where P = MC since this: (w) is good for society. (x) is all which is permitted through law. (y) maximizes profits. (z) permits price adjustment although not qu
When the last unit produced as well as sold adds $75 to a profit-maximizing firm’s revenue with $100 to its costs, in that case the firm will: (w) increase output to increase profit. (x) reduce
Pure competitors generate where P = MC since this: (w) is the best price and output for society. (x) maximizes combined consumer and producer surpluses. (y) is consistent along with maximizing profit
A firm would raise profits when it: (w) decreased output when MR > MC. (x) expanded output while MR > MC. (y) increased output when MC > MR. (z) shut down since MR = MC. Hello guys I want yo
Purely competitive firms will experience economic profit, in a short-run equilibrium which is: (w) zero. (x) positive. (y) negative. (z) negative, zero, or positive are all possibilities. Hey friends
Ceteris paribus, inside the short run an increase into the market demand for this product would permit this purely competitive firm to be: (w) make only normal profits. (x) break even. (y) make econom
Total revenue for the firm in illustrated figure is __________ __________ total cost.: (w) greater than (x) less than (y) equal to (z) Cannot be determined by the information given. Can anybody sug
The curves demonstrated in this figure reflect that: (i) operation in the short run since fixed costs can be measured in the graph. (ii) a disequilibrium that will force some competitors to exit this
When this firm is a typical pure competitor within this industry as in demonstrated figure, then the firm is: (i) making normal accounting profit. (ii) making zero economic profit. (iii) breaking even
When the firm produced at output level q2, this produced where: (w) MR = MC. (x) MR > MC. (y) MR < MC. (z) P < MC. Can someone explain/help me with best solution about problem of Econo
Total cost can be estimated as area: (i) 0bcq1. (ii) 0adq2. (iii) 0Peq2. (iv) aPed. (v) Cannot be measured in illustrated figure. Hello guys I want your advice. Please recommend some views for abov
Total variable costs can be estimate as: (1) 0bcq1. (2) 0adq2. (3) 0Peq2. (4) aPed. (5) Cannot be measured within demonstrated figure. Hey friends please give your opinion for the problem of Econom