Which statement is true about the perfect competitor?
A) Firms operate at peak efficiency in the short run.
B) Economic profits are greater than accounting profits.
C) Firms that survive must make a profit in the long run.
D) The demand curve is perfectly elastic for each firm.
Correct Answer:
Verified
Q153: Which statement is true?
A)The firm is making
Q185: The firm's most efficient output would be
A)50.
B)80.
C)90.
D)100.
E)120.
Q186: Marginal revenue at the profit-maximizing/loss-minimizing amount is
A)$5.
B)$6.
C)$7.
D)$8.
Q187: In the long run perfectly competitive
A)firms will
Q189: When operating at the profit-maximizing/loss-minimizing level of
Q191: The firm's most efficient output would be
A)70
Q192: Computerization of the business world since the
Q193: Under perfect competition in the long run,price
Q194: The most efficient level of output for
Q195: Each of the following is a characteristic
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