A perfectly competitive firm gets only normal profit when

Related MCQs

• Profit maximization for a perfectly competitive firm is at the quantity where
• If a perfectly competitive firm finds that the profit maximizing output level occurs where price is equal to marginal cost but is less than average variable cost
• The demand curve for a perfectly competitive firm
• In the long run, a perfectly competitive firm earning zero economic profits
• That the perfectly competitive firm will pick a combination of inputs where the ratio of each input’s marginal product to its price is equal follows from
• The best, or optimum, level of output for a perfectly competitive firm is given by the point where
• The short-run supply curve of the perfectly competitive firm is given by
• When the perfectly competitive firm and industry are both in long-run equilibrium
• When the perfectly competitive firm but not the industry is in long-run equilibrium,
• If one perfectly competitive firm increases its level of output, market supply