 Question 2

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Which of the following does NOT characterize the long run equilibrium in the perfectly competitive market Selected Answer: An incentive to increase plant, price and output. Answers: An incentive to increase plant, price and output. No incentive to change the size of the current plant No incentive to change production Other firms had no incentive to enter the market
Question 2 0.00000 out of 1.00000 points If the marginal revenue is below average variable cost, the firms should
Question 3 0.00000 out of 1.00000 points A firm, in a perfectly competitive market, produces and sells child car seats. The sales price is $700, the fixed cost are $3,000 and the variable cost are $250 per unit. What is the marginal cost for the 10th seat sold?
0 Question 4 1.00000 out of 1.00000 points Marginal revenue is

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