
BEP & Shutdown Point Perfect Competition
Authored by Ira Rachmiati
Social Studies
9th - 12th Grade

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26 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In a perfectly competitive market, a firm will continue producing in the short run if:
Price > ATC
Price > AVC
Price < ATC
MR = 0
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What happens when marginal cost (MC) is below marginal revenue (MR)?
The firm is maximizing profit
The firm should reduce output
The firm is operating efficiently
The firm should increase output
The firm should shut down
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A firm produces at a point where MR = MC, but ATC > P. What is the firm's condition?
Normal profit
Loss minimizing
Shutdown
Break-even
Supernormal profit
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which condition leads a firm to keep operating despite making losses?
TR > AVC
P < ATC
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In short-run perfect competition, firms adjust output based on:
MR and ATC
MC and AVC
MR and MC
TR and TC
Demand and supply
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The break-even point is achieved when:
TR = TVC
TR = TC
TR > TC
TR < MC
TR > TVC
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The shutdown point occurs when:
TR = TC
TR = TVC
P = ATC
MC = MR
P > AVC
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