| 1 |
When MR = MC , a firm. |
- A. Does not attain a equilibrium position
- B. Suffers from loss
- C. Attains its equilibrium position
- D. Attains profit
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| 2 |
Normally MR curve intersects MC curve at points |
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| 3 |
A firm attains equilibrium under monopoly where: |
- A. AR = MR
- B. AC = MC
- C. MR = MC
- D. AR = AC
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| 4 |
We establish ______ conditions for equilibrium |
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| 5 |
In the long-run a competitive firms attains only:<div><br></div> |
- A. Normal profit
- B. Super Normal profit
- C. Sub-Normal profit
- D. Marginal cost
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| 6 |
A firm will be in equilibrium where. |
- A. Its total profit is high
- B. Its cot is minimum
- C. It produces at a level of output which its profit is minimum or loss in minimum
- D. None of the three
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| 7 |
The necessary condition for equilibrium position of a firm is |
- A. MC > MR
- B. MC > price
- C. MC = MR
- D. MC = AC
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| 8 |
Compare with monopoly price, the competitive price ids always: |
- A. Less than monopoly price
- B. More than monopoly pruce
- C. Equal to monopoly price
- D. Non of the three
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| 9 |
profit is a maximum when |
- A. TC and TR curves are parallel
- B. MC and MR curves are parallel
- C. AC and AR curves are parallel
- D. TFC and TVC are parallel
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| 10 |
Under monopoly the price is always equal to: |
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