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  2. Business
  3. Microeconomics Study Set 10
  4. Quiz 13: Perfect Competition

For Firms That Sell One Product in a Perfectly Competitive

Question 28
Multiple Choice

For firms that sell one product in a perfectly competitive market,the market price: A) can be influenced by one firm's output decision. B) is equal to the average total cost of a firm. C) is taken as a constant by individual firms. D) is higher than the marginal revenue of a firm

Related questions
Q 29
For firms that sell one product in a perfectly competitive market,the market price: A) will remain constant regardless of an individual firm's output decision. B) is equal to the average total cost of a firm. C) is equal to the marginal cost of a firm. D) All of these are true.
Q 30
For firms that sell one product in a perfectly competitive market,average revenue is: A) calculated by total revenue divided by total output. B) equal to marginal revenue. C) equal to the market price. D) All of these are true.
Q 31
For firms that sell one product in a perfectly competitive market,average revenue is: A) calculated by total output divided by total revenue. B) equal to marginal cost. C) equal to the market price. D) greater than market price.
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