A. Upward-sloping portion of the average total cost curve
B. upward-sloping portion of the average variable cost curve
C. portion of the marginal cost curve that lies above the average total cost curve.
D. entire marginal cost curve.
E. portion of the marginal-cost curve that lies above the average variable cost curve
Costs , Supply And Perfect Competition
A grocery store should close at night if the ?
A. variable costs of staying open are less than the total revenue due to staying open.
B. total costs of staying open are less than the total revenue due to staying open
C. variable costs of staying open are greater than the total revenue due to staying open
D. total costs of staying open are greater than the total revenue due to staying open
In the long-run some firms will exit the market if the price of the good offered for sale is less than ?
A. marginal revenue
B. marginal cost
C. average total cost
D. average revenue
If an input necessary for production is in limited supply so that an expansion of the industry raises costs for all existing firms in the market, then the long-run market supply curve for a good could be ?
A. perfectly inelastic
B. perfectly elastic
C. upward sloping
D. downward sloping
in long-run equilibrium in a competitive market, firms are operating at ?
A. the minimum of their average-total-cost curves
B. all of these answers are correct
C. their efficient scale
D. zero economic profit
E. intersection of marginal cost and marginal revenue
Which of the following is not one of the four Ps in marketing ?
A. Product
B. Price
C. Place
D. Presence
In monopolistic competition of firms are making abnormal profit other firms will enter and ?
A. The marginal cost will shift outwards
B. the demand curve will shift inwards
C. The average cost will shift downwards
D. The average variable cost will increase
If a firm takes over a competitor then, according to porter’s 5 forces model ?
A. Buyer power is higher
B. Supplier power is higher
C. Substitute threat is higher
D. Rivalry is lower
In monopolistic competition ?
A. There are few sellers
B. There are few buyers
C. There is one seller
D. There are many sellers
If a long run average cost curve is falling form left to right this is an example of ?
A. increasing returns to scale
B. decreasing returns to scale
C. constant returns to scale
D. the minimum efficient scale