
-In Figure 5.7, assuming perfect competition and at MR1 there will be
A) short run pressure on the price to rise.
B) long run pressure on the price to rise.
C) no pressure on the price to change.
D) short and long run pressure on the price to rise.
Correct Answer:
Verified
Q38: There are hundreds of local water companies
Q39: The fast food industry can be modeled
Q40: Lumber Products can be modeled best using
Q41: Local telephone service was once an area
Q42: There will be short-run pressure on the
Q44: If MR>MC then when an additional unit
Q45: Whether a firm stays in business or
Q46: Normal Profit is what a firm
A)usually makes.
B)needs
Q47: An indicator of the degree of competition
Q48: Economic Profit exists whenever
A)A firm makes even
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents