Question
Solve the mcqs no Explanation please: If marginal cost is greater than marginal revenue, the firm should ---------- its output Increase Decrease Keep unchanged None
Solve the mcqs no Explanation please:
If marginal cost is greater than marginal revenue, the firm should ---------- its output
Increase
Decrease
Keep unchanged
None of the above
The firm should shut down if
TR TR>VC TR=VC None of the above If price is above average total cost curve, the firm has -------- Losses Positive profit No profit, no loss None of the above When demand curve shifts outward due to some external change in environment, the competitive firms will-------- their output Not change Increase Decrease None of the above Competitive firms are Price maker Price taker a&b both none of the above ------------- firms face horizontal demand curves. Monopoly Competitive oligopolistic None of the above There is no price effect in case of Competitive firm Monopoly Price taker firms a&c both The monopolist produces ---------- the socially efficient quantity of output. More than Less than Equal to the None of the above The basic point of difference between the characteristics of Monopolistic competition and perfect competition is Many sellers Product differentiation Free entry and exit in the market Few sellers
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The Ethics Of The New Economy Restructuring And Beyond
Authors: Leo Groarke
1st Edition
1554586933, 9781554586936
