MCQ's 1) The long run average total cost curve is a) tangent to all the short run average cost curves b) total variable cost curve c) total fixed cost curve d) None of the above 2) If many sellers sell the same product what happens a) Loss for the seller b) horizontal supply curve c) Supplier has no power to change the product d) Market chaos 3) In the short run firms in perfect competition will still produce provided price covers a) VC b) AFC c) FC d) AVC
Subject: Menagerial economics & policy
MCQ's
1) The long run average total cost curve is
a) tangent to all the short run average cost curves
b) total variable cost curve
c) total fixed cost curve
d) None of the above
2) If many sellers sell the same product what happens
a) Loss for the seller
b) horizontal supply curve
c) Supplier has no power to change the product
d) Market chaos
3) In the short run firms in
a) VC
b) AFC
c) FC
d)
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