Which of the following is true regarding how a market type...

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UNIT 3 — MILESTONE 3 Score 12/21 You passed this Milestone 12 questions were answered correctly . 9 questions were answered incorrectly . 1 Which of the following is true regarding how a market type interacts with constant, increasing and decreasing cost industries?
In a perfectly competitive market, firms will usually experience significant economies of scale until very high levels of output.
In a monopoly, firms are likely to begin experiencing diseconomies of scale at relatively low levels of output.
The Prisoner's Dilemma can come into play when firms ___________.
are regulated by the government in order to provide fair pricing to consumers engage in predatory pricing to move each other out of the market CONCEPT Oligopoly 3 Select the definition of output effect. Market price multiplied by the number of units sold Amount of revenue lost from lowering the price enough to sell one more unit The additional revenue from raising the price of a good The revenue that results from selling additional units of a good or service.
CONCEPT Revenue: Total, Marginal and Average 4 If variable costs for a firm are $800, the average total costs are $6, and the firm sells 175 units, what are the firm's fixed costs?
CONCEPT Cost: Total, Marginal and Average 5

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