In a perfect competition, a firm earns super normal profit when the AR of the firm _____ the ACT of the firm.

Related MCQs

• In the long run, a firm in perfect competition earns _____________
• ________ competition exists when the basic features of Perfect Competition are not present.
• Which one of the following is a feature of a perfect competition?
• Which of the first order condition for the profit of a firm be maximum?
• Which of the following does not characterize monopolistic competition?
• On the basis of competition, markets are classified into __________ types.
• _______ means absence of competition.
• In a firm doubles all inputs, and output doubles as well, the firm is subject to
• ___________ is an act to use the goods or service to satisfy the wants.
• If a firm produces 200 units of commodity X by employing 10 workers and 240 units of the same commodity by employing 12 workers, then the Average Product of the worker is