The Theory of the Firm Under Perfect Competition Test - 1

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The Theory of the Firm Under Perfect Competition Test - 1
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  • Question 1
    1 / -0

    Condition for producer equilibrium is:

  • Question 2
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    For maximum profit, the condition is:

  • Question 3
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    ____________ is an ideal market?

  • Question 4
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    Under which market situation demand curve is linear and parallel to X-axis?

  • Question 5
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    For a monopolist, the necessary condition for equilibrium is?

  • Question 6
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    Supernormal profit occur, when?

  • Question 7
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    MR curve=AR=Demand curve is a feature of which kind of market?

  • Question 8
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    If under perfect competition, the price lies below the average cost curve, the firm would?

  • Question 9
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    What are the conditions for the long run equilibrium of the competitive firm?

  • Question 10
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    Under which market condition firms make only Normal Profit in the long run?

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