When the perfectly competitive firm and industry are both in long-run equilibrium

Related MCQs

• An increase in output in a perfectly competitive and constant cost industry which is in longrun equilibrium will come
• When the perfectly competitive firm and industry are both in long run equilibrium
• When a perfectly competitive industry is in long-run equilibrium, all firms in the industry
• When the perfectly competitive firm but not the industry is in long-run equilibrium,
• If a perfectly competitive industry is in long-run equilibrium, which of the following is most likely to be true
• The market demand curve for a perfectly competitive industry is QD = 12 - 2P. The market supply curve is QS = 3 + P. The market will be in equilibrium if
• Suppose a competitive firm produces 100 units of X for a price of Rs.10 a unit. The firm is employing labour and capital such that the marginal physical product of labour and capital is 20 and 5 and the prices paid to labour and capital are Rs. 60 and Rs. 40 respectively. How would you characterize the firm
• A market is clearly NOT perfectly competitive if which of the following is true in equilibrium
• The equilibrium level of output for a perfectly competitive market is
• A perfectly competitive firm should reduce output or shut down in the short run if market price is equal to marginal cost and price is