If price is less than average cost, in the short-run, the competitive firm can earn

Related MCQs

• If price is greater than average cost, in the short-run, the competitive firm can earn
• If price is equal to average cost, in the short-run, the competitive firm can earn
• In the short-run, a competitive firm can earn
• In the long run, a competitive firm can earn
• Assertion (A) Many oligopolistic industries exhibit an appreciable degree of Price rigidity or stabilityReason (R) Oligopolists face a demand curve that is highly elastic for price increases and less elastic for price reductions
• Increase or decrease in the level of production by a monopolistically competitive firm have ------- impact on price and output decisions of other firms
• Monopolistic competitive firm fixes the price of its product
• A perfectly competitive firm gets only normal profit when
• The short-run supply curve of a perfectly competitive firm is given by
• When the perfectly competitive firm and industry are both in long run equilibrium