Monopolistic competitive firm fixes the price of its product

Related MCQs

• 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
• 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
• If an imperfectly competitive firm is producing a level of output where marginal cost is equal to marginal revenue, marginal revenue is below average variable cost, and price is equal to average total cost, then the firm
• 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
• Price is constant or "given" to the individual firm selling in a purely competitive market because:
• When a purely competitive firm is in long-run equilibrium, price is equal to:
• 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
• If price is equal to average cost, in the short-run, the competitive firm can earn
• If price is greater than average cost, in the short-run, the competitive firm can earn
• If price is less than average cost, in the short-run, the competitive firm can earn