Select all that apply A firm wishing to enter an industry in which the long -run average costs curve continues to decline over ranges of output that are high relative to the market demand for the good would find entry prohibitive because of Multiple select question. government created entry barriers. inability to purchase inputs. economies of scale. brand loyalties.

Select all that apply A firm wishing to enter an industry in which the long -run average costs curve continues to decline over ranges of output that are high relative to the market demand for the good would find entry prohibitive because of Multiple select question. government created entry barriers. inability to purchase inputs. economies of scale. brand loyalties.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Similar questions

In a perfectly competitive market: marginal costs will be less than average costs. all firms will produce an equal amount of output. market price will equal the total cost of production. total industry costs of production are minimized.
Which statement best explains how a perfect competition market structure determines the price of a product? A government controls the market and sets the price of a product. Consumers in the market agree to only pay a certain price for a product. The interaction of consumers and businesses determines the price. A small number of large businesses secretly agree to fix the price.
In perfect competition, marginal revenue Group of answer choices increases as more is sold. decreases as more is sold. is equal to the market price. is zero. is always greater than marginal cost.
In perfect competition, the maximum benefit is achieved where the vertical difference between total revenue and total cost is smallest. True or false
The period of time long enough to allow a firm to vary all of its inputs, to adopt new technology, and to increase or decrease the size of its physical plant is considered the Group of answer choices immediate run. short run. long run. market opening. cannot be determined with the given information. Give typing answer with explanation and conclusion
Marginal revenue and marginal cost are same. This means that the firm is at minimum level of profit. True/False
Alpha, a company is selling in a perfectly competitive market. Its output is 100 units which sells for $4 each. At this level of output, total cost is $500, total fixed cost is $110, and marginal cost is constant at $4. In the short run, the firm should Group of answer choices reduce output to about 40 units reduce output to about 80 units continue to produce 100 units produce zero units of output There is not enough information to tel
In the short run, the best policy for a perfectly competitive firm is to Group of answer choices shut down its operation if price ever falls below average total cost. produce and sell its product as long as price is greater than average variable cost. shut down its operation if price falls between average total cost and average variable cost. a and c none of the above
Table Cost.EX2.2: Data for a Competitive Firm Marginal Marginal Output Cost Revenue (Q) (MC) (MR) 10 $3.00 $4.00 11 $3.50 $4.00 12 $4.00 $4.00 13 $4.50 $4.00 14 $5.00 $4.00 15 $5.50 $4.00 16 $6.00 $4.00 Refer to Table Cost.EX2.2. If the firm wishes to maximize profit, it should produce units. O 10 O 12 O 11 6.
Which of the following scenarios represents a customer acquisition cost of $100? Multiple Choice A company spends $100.000 on advertising and marketing in one month. They gain 100 new customers that month. A company spends $1.000 on advertising and marketing in one month. They gain 100 new customers in that month. A company spends $100.000 on advertising and marketing in one month. They gain 1,000 new customers in that month. A company spends $100 on advertising and marketing in one month. They gain 10 new customers in that month.
Answer multiple choice