Costs , Supply & Perfect Competition Mcqs
Costs , Supply & Perfect Competition Mcqs, this topic has 50 mcqs, It takes five to ten minutes to complete this free Costs , Supply & Perfect Competition Mcqs test. You will see 4 or 5 option of each question. You must choose / think only one option and then press on answer key for check right answer. Practice "Costs , Supply & Perfect Competition Mcqs" MCQs and share with your friends, brothers, sisters.
Costs , Supply & Perfect Competition Mcqs (Total Quiz: 50)
MCQ: For a competitive firm, its short run supply curve is ______ and its long run supply curve is _____?
- SMC, LMC
- SMC above SAVC, LMC above LAC
- SMC below SAVC, LMC above LAC
- SMC below SAVC, LMC bellow LAC
B
MCQ: In the short run a firm will produce zero output if ?
- price is greater than short run average total cost
- price is between short run average total cost and short run average variable cost
- price is less than short run average variable cost
- profit is zero
C
MCQ: Short run average total costs are equals to the sum of ____ and _____?
- Short run opportunity costs, profit
- Short run variable costs, profit
- Short run average variable costs, profit
- Short run average variable costs, profit run average fixed costs
D
MCQ: When average cost is falling marginal cost is ________ and when average cost is rising marginal cost is?
- greater than average cost, greater than average cost
- less than average cost, greater than average cost
- less than average cost, less than average cost
- greater than average cost, less than average cost
B
MCQ: If a long run average cost curve is falling form left to right this is an example of ?
- increasing returns to scale
- decreasing returns to scale
- constant returns to scale
- the minimum efficient scale
A
MCQ: In monopolistic competition ?
- There are few sellers
- There are few buyers
- There is one seller
- There are many sellers
C
MCQ: If a firm takes over a competitor then, according to porter’s 5 forces model ?
- Buyer power is higher
- Supplier power is higher
- Substitute threat is higher
- Rivalry is lower
B
MCQ: In monopolistic competition of firms are making abnormal profit other firms will enter and ?
- The marginal cost will shift outwards
- the demand curve will shift inwards
- The average cost will shift downwards
- The average variable cost will increase
A
MCQ: In monopolistic competition ?
- Demand is perfectly elastic
- Products are homogeneous
- Marginal revenue = price
- The marginal revenue is below the demand curve and diverges
D