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New Member
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Jun 29, 2008, 01:07 PM
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Perfect competition
The return that the entrepreneur can obtain in the best alternative business is call the
Normal profit, economic profit, marginal profit, or marginal revenue?
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New Member
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Jun 29, 2008, 01:08 PM
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Perfect competition
An example of a perfectly competitive firm is
An oat farmer in the US, the local cable TV company, a US automobile producer, or a big city newspaper?
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New Member
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Jun 29, 2008, 01:11 PM
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Perfect competition
The firm's goal is to
Maximize its normal profit, maximize its economic profit, maximize its total revenue, or maximize its industry's revenue?
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New Member
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Jun 29, 2008, 01:12 PM
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Perfectly competitive firm
In the short run, a perfectly competitive frim
Will shut down if it incurs any economic loss, will incur an economic loss if it shuts down, does not consider total revenue in its shut down decision, or can earn a small economic profit while being shut down??
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New Member
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Jun 29, 2008, 01:14 PM
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single-price monopolist
for a single-price monopolist,
MR=P, MR<P, MR first increases and then decreases with the quantity sold, or MR first decreases and then increases with the quantity sold??
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Uber Member
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Jun 29, 2008, 01:15 PM
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Hello lex:
In all the perfectly run firms that I ran, I never shut down. That's probably not a good answer for your homework question. But, too bad.
excon
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New Member
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Jun 29, 2008, 01:16 PM
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Monopolist and inelastic demand
For a monopolist, on the inelastic range of its demand,
Marginal revenue is negative, marginal revenue is positive, marginal revenue is equal to zero, or total revenue is maximized??
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New Member
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Jun 29, 2008, 01:17 PM
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Single-price monopolist
For a single-price monopolist, as output increases, total revenue
Initially increases and then decreases, initially decreases and then increases, increases continually, or decreases continually??
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