101.In perfect competition, the profit-maximizing level of output occurs where the:
A)MR = MC above minimum AVC.
B)price < marginal cost above minimum AVC.
C)MR > MC below minimum AVC.
D)P = MR above MC.
102.A perfectly competitive firm will incur an economic loss but will continue producing output in the short run if the price is:
A)less than marginal cost.
B)greater than average fixed cost and less than average variable cost.
C)greater than average total cost.
D)greater than average variable cost but less than average total cost.
103.If the price is greater than the average variable cost and less than the average total cost at the profit-maximizing quantity of output in the short run, a perfectly competitive firm will:
A)continue to produce at an economic loss.
B)earn an economic profit.
C)encourage other firms to enter the industry.
D)produce more than the profit-maximizing quantity.
104.In the short run, if AVC < P < ATC, a perfectly competitive firm:
A)produces output and earns an economic profit.
B)produces output and incurs an economic loss.
C)does not produce output and earns an economic profit.
D)does not produce output and earns zero economic profit.
105.In the short run, a perfectly competitive firm produces output and incurs an economic loss if:
A)P > ATC.
B)P < AVC.
C)AVC > P > ATC.
D)AVC < P < ATC.
106.A perfectly competitive firm will not produce any output in the short run and will shut down if the price is:
A)greater than marginal cost.
B)less than marginal cost.
C)less than average variable cost.
D)greater than average variable cost and less than average total cost.
107.The shut-down point in the short run is:
A)the point at which economic profit is zero.
B)the minimum point of AVC.
C)the intersection of the MC and ATC curves.
D)the minimum point of AFC.
108.If the price is less than the average variable cost at the quantity of output where MR = MC, in the short run a perfectly competitive firm will:
A)produce at a loss.
B)produce at a profit.
C)shut down production.
D)produce more than the profit-maximizing quantity.
109.Assume that in the short run a perfectly competitive firm does not produce output and has economic losses. This occurs at the quantity where MR = MC and:
A)P = ATC and FC = 0.
B)P < AVC and FC > 0.
C)AVC > P > ATC and FC = 0.
D)AVC < P < ATC and FC > 0.
110.In the short run, if P < AVC at the quantity where MR = MC, a perfectly competitive firm produces _____ and takes an economic _____.
A)output; profit
B)output; loss
C)no output; profit
D)no output; loss
GraduateWriterHelp.com is an online academic writing platform that provides extensive assistance to graduate school students as they work through their research projects, papers and dissertations. GraduateWriterHelp.com gives students access to experienced professionals who can provide the help they need in a timely and efficient manner. The service offers a wide range of services, including editing, proofreading, formatting, researching and more that can give students the confidence they need to write the perfect paper or dissertation for their chosen subject matter.
Services Offered by GraduateWriterHelp.com
GraduateWriterHelp.com offers a wealth of different services designed to make research projects easier for graduate school students. These include editing, proofreading, formatting and researching services, all tailored specifically for graduate-level studies such as PhDs or Master’s degrees in any field from business administration to engineering or even psychology – all with the aim of helping busy students find success in their academics without having to sacrifice other important commitments like family time or work hours towards earning a living wage outside of college hours.
The Benefits of Using GraduateWriterHelp.com
Using GraduateWriterHelp.com gives you access to experts from all over the world who are highly qualified and experienced in helping graduate-level students to complete successful projects in various fields quickly and efficiently – something that would otherwise be difficult, if not impossible, given tight deadlines associated with most Ph.D./Master’s degree programs today. Moreover, using this platform makes it easier for students to keep up with multiple research tasks simultaneously since there are so many different experts available on tap at any one time – no longer will you have to put off studying one topic while focusing on another because of lack of resources! Additionally, having access to professional editors, proofreaders, but also formatters means that quality control standards aren’t sacrificed when finishing major pieces – since these individuals understand what makes up good academic writing better than anyone else and can offer guidance on how best one should go about making improvements along those lines. Finally, there is also an added cost-saving benefit associated with utilizing Graduate Writer Help compared to hiring an independent contractor (which could potentially run into thousands depending on length/complexity).
This service allows users only pay for what students need, which tends to be much lower overall because customers pay per hour rather than project basis, thus resulting to greater financial flexibility, especially for those just starting out postgraduate studies looking to conserve some pennies here there whenever possible!
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.
Read moreEach paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.
Read moreThanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.
Read moreYour email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.
Read moreBy sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.
Read more