Long run equilibrium price is also called:
A) Normal price
B) Abnormal price
C) Market price
D) Just price
Correct Answer:
Verified
Q10: Under the Perfect competition, products are:
A)Heterogeneous
B)Homogenous
C)Semi-homogeneous
D)All of
Q11: The demand curve of Monopoly firm is
Q12: The payment given to the factor labour
Q13: Monopoly is:
A)Presence of competition
B)Absence of competition
C)Both A
Q14: A monopolist is a:
A)Price taker
B)Price maker
C)Policy maker
D)All
Q16: Under perfect competition:
A)AR and MR are identical
B)AR
Q17: Firm and industry are the same under:
A)Perfect
Q18: Kinked demand curve is found under:
A)Monopoly
B)Oligopoly
C)Perfect competition
D)Duopoly
Q19: The point at which the firm covers
Q20: The equilibrium price in the short period
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