举一反三
- The demand for a product of a monopolistically competitive firm is:
- In perfect competition, each firm ________. A: can influence the price that it charges B: produces as much as it can C: is a price taker D: faces a perfectly inelastic demand for its product
- A perfectly competitive firm is producing 75 units of output. The market price is $7 and the firm's marginal cost is $8. The firm should:
- Assume that there is a single firm producing toilet paper and the firm specific demand curve is the same as the market demand curve. If a second firm that also produces toilet paper enters the market what will happen to the firm-specific demand curve of the original firm? A: There is a movement up along the demand curve. B: There is a movement down along the demand curve. C: shifts to the right D: shifts to the left
- Refer to Figure 9.6. At a market price of $15, this perfectly competitive profit maximizing firm should:
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If a firm in a perfectly competitive market tries to raise its price above the going market price, then:
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In both perfect competition and monopolistic competition, each firm A: sells identical products. B: faces a downward-sloping demand curve its product. C: has no monopoly power. D: can enter or exit the market freely.
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Which of the following statements is correct? A: The value of the marginal product curve is the labor demand curve for competitive, profit-maximizing firms. B: A competitive, profit-maximizing firm hires workers up to the point where the value of the marginal product of labor equals the wage. C: By hiring labor up to the point where the value of the marginal product of labor equals the wage, the firm is producing where price equals marginal cost. D: All of the choices are correct.
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Refer to Figure 9.6. At a market price of $20, this perfectly competitive profit maximizing firm should produce approximately ________ units.572c6d5de4b0809f2415b2ef.png
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中国大学MOOC: A firm operating in a perfectly competitive industry will continue to operate in the short run but earn losses if the market price is less than that firm’s average variable cost but greater than the firm’s average fixed cost.