The equilibrium price in the short period is called:
A) Normal price
B) Abnormal price
C) Market price
D) Bogus price
Correct Answer:
Verified
Q15: Long run equilibrium price is also called:
A)Normal
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
Q21: Cartel is one form of:
A)Monopoly
B)Duopoly
C)Collusive oligopoly
D)Non-collusive oligopoly
Q22: Competition "among the few" is often called
Q23: The equilibrium point in game theory is
Q24: Equilibrium in the Cournot Model of Duopoly
Q25: The book 'Theory of Monopolistic Competition' is
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