MCQ: A perfectly competitive firm Can decide what price to charge for its product Has to sell its product at the market equilibrium price Can charge different customers different prices None of the above       In a perfectly competitive industry, The market demand curve is downward sloping The market supply curve is upward sloping The firm’s demand curve is horizontal at the equilibrium price All of the above

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A: Average variable cost is minimum where MC=AVC

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A: please find the answer below.

Q: a perfectly competitive market over the long run, a. an increase in market demand or a decrease in…

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A: Introduction Perfect competitive market It a market where many numbers of buyers and sellers with…

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A: Note: Since you've asked multiple question, we will solve the first question for you. If you want…

Q: Ceteris paribus, if a firm in a perfectly competitive industry raises its price above market price,…

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Q: multiple choice  If a typical firm in a perfectly competitive industry is earning economic profits,…

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Q: QUESTION 2 Match each of the terms to their description: v Entry A. additional cost of producing one…

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Q: QUESTION 16 Deadweight loss: Refers to the lower profit in perfectly competitive markets Refers to…

A: Since you have asked multiple questions, only the first question will be answered.  Deadweight loss…

Q: A firm sells its product in a perfect competitive market where other firms charges a price of $90…

A: Since you have posted a question with multiple subparts, we will solve the first three subparts for…

Q: The figure below shows the supply and demand curves for a perfectly competitive industry. The market…

A: Equilibrium in the market occurs at the intersection of demand and supply curves.

Q: Firms in a perfectly competitive industry maximize profits by:     eliminating the…

A: The perfect competition is a market structure which is characterized by the presence of a large…

Q: A competitive firm can increase profit by_____________________if marginal cost exceeds price.…

A: In perfectly competitive market, all firms produce homogeneous product, where no single firm can…

Q: of the following are characteristics of a perfectly competitive market except: -small firm size…

A: Marginal revenue is the additional total revenue earned with an additional unit of production.

Q: Question 3 of 20 Place the characteristics into the most appropriate category. All characteristics…

A: A firm where large number of firms selling homogeneous goods, refers to as perfectly competitive…

Q: All of the following are ways by which existing firms can deter the entry of new firms into an…

A: The answer to above is (A) threating to raise prices. When a new firm enters the industry , it faces…

Q: The demand curve and supply curve for a perfectly competitive market are: Q = 500 – 5P and Q = 320 +…

A: Since you have posted a question with multiple sub-parts, we will solve first three sub parts for…

Q: The market position of Easy-Freeze Dinners shows that competition is heavy, though marginal…

A: Here, it is given that the market of Easy-Freeze Dinner is highly competitive, but some or marginal…

Q: Question 1 Scenario 14-1 Assume a certain firm in a competitive market is producing Q = 1,000 units…

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Q: Q5 Why will a perfectly competitive firm not sell its product below the prevailing market price? a.…

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Q: perfectly competitive market

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A: The answer to the question is as follows :

Q: Each of the statements shown is characteristic of a phase in the development of a competitive market…

A: A perfectly competitive firm is a price taker and can sell any quantity of the commodity at the…

Q: A perfectly competitive firm is in the following situation: output = 6000 units; market price = $2;…

A:

Q: Compared to the perfectly competitive industry, a monopoly    options:   provides a higher…

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Q: price elasticity of demand for any particular perfectly competitive firm's output is.... A. Less…

A: Price elasticity of demand shows how much quantity demanded of a good changes when its price…

Q: For a perfectly competitive industry, an increase in market demand will result in Exit of some…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: multiple choice firms in perfect competitions will leave the industry if they: 1- suffer short-run…

A: Perfect competition is a market structure in which all firm are free to enter or exit in the market…

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A: Perfectly competitive market is a form of market in which there are large number of firms which are…

Q: in the long-run, firms that operate in perfectly competitive markets should expect to earn exonomic…

A: Perfect competitive market is a market structure characterized by large number of buyers and sellers…

Q: In a perfectly competitive market:   marginal costs will be less than average costs.   all firms…

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Q: At zero economic profits, a competitive firm:     is making a normal profit; its revenues are…

A: At zero economic profit, a competitive firm is making a normal profit; its revenues are just…

Q: Profits are maximized at the output at which marginal cost equals marginal revenue. If the market…

A: A firm will maximise profit at a point where marginal revenue is equal to marginal cost and price is…

Q: Please refer to the figure above. The competitive market player will produce ____ units of output.…

A: A perfectly competitive market is produce at a point where price is equal to MC From the figure,…