Author Question: In perfect competition, at all levels of output the market price is the same as the firm's ________. ... (Read 63 times)

stevenposner · **on:** Jun 29, 2018

In perfect competition, at all levels of output the market price is the same as the firm's ________.

A) marginal revenue
B) normal profit
C) average variable cost
D) fixed cost

Question 2

Consider the market for broccoli. If the price of a pound of broccoli increases, what happens to the supply of broccoli?

A) The supply of broccoli decreases.
B) The supply of broccoli increases.
C) There will be no change in the supply of broccoli, but instead there is an increase in the quantity supplied of broccoli.
D) There will be no change in the supply of broccoli, but instead there is a decrease in the quantity supplied of broccoli.