Whichofthefollowingstatementsisnotcharacteristicofaperfectlycompetitiveindustryinlong-runequilibrium?Ceterisparibus,thereisnotendencyforfirmstoeitherenterorexittheindustry.A.A profit-maximizing firm may produce any output level at which P B.Every firm produces at an output level at which MC = LRATC.C.Ceteris paribus, there is no tendency for firms to either enter or exit the industry.D.No firm earns an economic profit.
举一反三
- Which of the following statements regarding a monopolist is most accurate A: A monopolist will maximize the average profit per unit sold. B: If a firm has a monopoly, it will always be able to earn economic profits. C: A monopolist, like any other profit-maximizing firm, will sell at the output level where marginal revenue equals marginal cost.
- If a competitive firm maximizes short-run profits by producing some quantity of output, which of the following must be true at that level of output? A: p ≥ AVC B: MR > MC C: All of the above D: p > MC
- Which type of profit maximizing firm will choose to produce where marginal revenue equals marginal cost?
- If a competitive firm maximizes short-run profits by producing some quantity of output, which of the following must be true at that level of output? A: p > MC B: MR > MC C: p ≥ AVC D: All of the above
- If a competitive firm maximizes short-run profits by producing some quantity of output, which of the following must be true at that level of output?