Under perfect competition
A) no firm has any influence over price.
B) firms are price takers,not price makers.
C) many firms produce identical products.
D) All of the choices are true under perfect competition.
Correct Answer:
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Q198: The profit-maximizing/loss-minimizing level of output
A)50.
B)80.
C)100.
D)120.
Q199: When operating at the profit-maximizing/loss-minimizing level of
Q200: The average total cost at the profit-maximizing/loss-minimizing
Q201: At an output of 22,ATC is $7
Q202: Under perfect competition
A)economic profits are greater than
Q204: At an output of 17,ATC is $20
Q205: When starting dot.com businesses,such as Amazon.com,many of
Q206: At an output of 156,MC = $17,ATC
Q207: Perfectly competitive firms
A)are only found occasionally.
B)have horizontal
Q208: In perfectly competitive markets,economic profits
A)send a signal
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