Break-even point is a point where price is equal to
A) AC
B) AVC
C) AFC
D) MC
Correct Answer:
Verified
Q1: If price is greater than average cost,
Q2: If price is less than average cost,
Q4: Shut-down point is a point where price
Q5: In the long run, a competitive firm
Q6: The importance of time element in price
Q7: In the short-period,
A)All factors are fixed
B)Some factors
Q8: In the long-period,
A)All factors are fixed
B)Some factors
Q9: At the optimum short-run level of output,
Q10: When the perfectly competitive firm and industry
Q11: The theory of monopolistic competition was popularized
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