If, in long run equilibrium, the competitive price of some good is $16.67, then, for each and every firm in the industry,
举一反三
- If, in long run equilibrium, the competitive price of some good is $16.67, then, for each and every firm in the industry, A: marginal cost > average cost = $16.67. B: marginal cost < average cost = $16.67. C: $16.67 = marginal cost = average cost. D: $16.67 = marginal cost > average cost.
- Ifpricesfallinaperfectly competitive industry,then the firmsin that industry will in the short run A: not decrease in number unless price falls below ATC for some firms. B: trytoreduceproductionorshutdown. C: keepoutputatthesamelevelbut makelosses. D: advertise.
- 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.
- A profit-maximizing competitive firm will hire workers up to the point at which the wage equals the price of the final good
- In a market with a dominant firm， it makes sense to assume that （ ）。 A: the fringe firms will set the industry price and the dominant firm will take that price as given. B: none of the above C: the dominant firm will set the industry price and the fringe firms will take that price as given. D: the dominant firm will set the industry price and the fringe firms will also make their price.