Q11. A competitive firm will tend to expand its output as long as marginal:
A) revenue is greater than the average cost. B) revenue is greater than marginal cost. C) cost is less than average cost.
Q12. In the short run, if price is below average total cost (ATC) the firm will: A) raise prices. B) keep running as long as it is covering its variable costs. C) produce more.
Q13. In the long run, if price is below average total cost (ATC) the firm will: A) keep running. B) shut down. C) cover its variable costs.
Q14. In the long run, a perfectly competitive firm will earn: A) small economic profits. B) zero economic profits. C) large economic profits.
Q15. Under perfect competition, a firm will be inclined to increase output as long as which of the following conditions exists? A) Marginal revenue is greater than the average cost. B) Marginal cost is less than average cost. C) Marginal revenue is greater than marginal cost.
[此贴子已经被作者于2009-1-6 13:48:56编辑过] | 
发表于 2009-1-6 13:30
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