Which of the following could attract new firm to join an industry?
Perfect Competition - QUIZ

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Education
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11th Grade
•
Medium
Esha .
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10 questions
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1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Normal profits
Economic losses
Economic profits
Accounting profits
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
A perfect competitive firm charges a price that is ____________.
different to other firms
higher than other firms
lower than other firms
similar to other firms
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
A firm faces a perfectly elastic demand curve, if _____________.
MC = MR
MR = AR
AR = MC
ATC = AVC
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is the goal of a firm?
to make profits
to maximize profits
to maximize revenue
none of the above
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
For a competitive firm, marginal revenue equals the price of the good it sells.
True
False
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