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Managerial Economics Study Set 1

Business

Quiz 8 :

Market Structure and Long Run Equilibrium

Quiz 8 :

Market Structure and Long Run Equilibrium

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​A sudden rise in the market demand in a competitive industry leads to
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B

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​A sudden rise in the market demand in a competitive industry leads to
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C

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​A sudden fall in the market demand in a competitive industry leads to
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B

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​In the long-run,a perfectly competitive firm will achieve
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​A sudden decrease in the market demand in a competitive industry leads to
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A sudden rise in the market demand in a competitive industry leads to ​
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​All of these are characteristics of a competitive industry,except:
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In a competitive industry buffeted by demand and supply shocks,prices increase and decrease,but economic profits tend to revert to zero.Hence,profits are exhibiting
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​In a perfectly competitive market industry,firm's prices are equal to
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​A sudden fall in the market demand in a competitive industry leads to
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​A sudden fall in the market demand in a competitive industry leads to
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​A sudden rise in the market demand in a competitive industry leads to
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A perfectly competitive firm has​
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Which of the following markets are closest to perfectly competitive​
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​If a firm in a perfectly competitive industry is experiencing higher than normal returns,in the long-run
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​A firm in a ______________ faces a __________ demand curve.
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​Once the patent for a drug in the pharmaceutical industry expires,the market for the generic equivalents
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A sudden decrease in the market demand in a competitive industry leads to ​
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​A sudden fall in the market demand in a competitive industry leads to
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​A sudden increase in the market demand in a competitive industry leads to
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