The short run is
A) usually 3-6 months.
B) dependent on the characteristics of the industry.
C) when a firm has to decide whether or not to exit.
D) identical to the long run for most firms.
Correct Answer:
Verified
Q4: If all conditions for a perfectly competitive
Q5: If a firm operates in a perfectly
Q7: In a competitive market,if buyers did not
Q8: In the short run
A)firms will shut down
Q9: The perfectly competitive model makes a lot
Q12: If a firm happened to be the
Q14: Firms that exhibit price-taking behavior
A) wait for
Q16: A horizontal demand curve for a firm
Q17: Economists define a market to be competitive
Q22: The model of perfect competition is valuable
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