Which of the following statements is true about a firm in a perfectly competitive market: Question 17 options: A firm will leave the market in the long-run if price equals marginal revenue. A firm will leave the market in the long-run if total revenue is lower than total cost A firm will leave the market in the long-run if price equals marginal cost. None of the above
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Question 17
Which of the following statements is true about a firm in a
Question 17 options:
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A firm will leave the market in the long-run if
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A firm will leave the market in the long-run if total revenue is lower than total cost
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A firm will leave the market in the long-run if price equals marginal cost.
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None of the above
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Question 18
The government is concerned about the dead weight loss that its
Question 18 options:
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Lowering the tax rate on a good on which taxes are currently high
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Lowering the tax rate on a good on which taxes are currently low
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Decreasing the tax rate on a good according to the Laffer curve
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Increasing the tax rate on a good according to the Laffer curve
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