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Essentials of Microeconomics

Business

Quiz 11 :

Perfect Competition

Quiz 11 :

Perfect Competition

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Which statement is true?
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Multiple Choice
Answer:

Answer:

B

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Consider a competitive firm with a TC = 50 + 2q2 + q.If price is $21, which statement is true?
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Multiple Choice
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Answer:

D

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The short-run supply curve for a firm in a competitive market is:
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Answer:

D

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Consider a competitive firm with a TC = 50 + 2q2 + q.If price is $17, which statement is true?
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Assume that a firm has TC = 100 + q2.If price is $50, which statement is true?
Multiple Choice
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Assume that a firm has TC = 100 + q2.If price is $20, which statement is true?
Multiple Choice
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A competitive firm has a TC = 64 + q2 + 20q.If the market price is $16, which statement is true?
Multiple Choice
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Which statement is true?
Multiple Choice
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Which statement is true?
Multiple Choice
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In the long run in a constant-cost industry:
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Answer: