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Author Question: Which of the following is TRUE regarding a perfectly competitive firm? A) The firm can charge a ... (Read 45 times)

jeatrice

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on: Jun 29, 2018
Which of the following is TRUE regarding a perfectly competitive firm?
 
  A) The firm can charge a lower price than its competitors and thereby sell more output and increase its profits.
  B) The firm always earns a normal profit.
  C) The firm's marginal revenue continually decreases.
  D) The firm's minimum efficient scale is small relative to the market demand.

Question 2

New growth theory assumes that
 
  A) all inputs experience diminishing returns.
  B) only random technological advances produce growth.
  C) knowledge does not experience diminishing returns.
  D) None of the above answers is correct.


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vkodali

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Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

C


jeatrice

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

kthug

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Reply 3 on: Yesterday
Excellent

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