A competitive firm demand curve is?
Correct answer A. Horizontal
Tip: press A, B, C or D to answer, and N for the next question.
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More Costs , Supply And Perfect Competition questions
See allA competitive firm produces a level of output at which?
Correct answer B. price equals marginal cost
In perfect competition?
Correct answer D. There are many buyers and sellers
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In the long run in perfect competition?
Correct answer A. price = average cost = marginal cost
Which of the following is not a characteristic of a competitive market?
Correct answer D. Firms generate small but positive economic profits in the long run
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