Under conditions of perfect competition, a firm's supply curve is determined by its
Total cost curve
Marginal cost curve
Variable cost curve
Fixed cost curve
Correct answer is B
No explanation has been provided for this answer.
The economic policy of deregulation is aimed at encouraging
A monopolistic market structure
A duopolistic market structure
A competitive market structure
An oligopolistic market structure
Correct answer is C
No explanation has been provided for this answer.
In the short-run a firm marginal cost curve above the point of shut-down is its
Demand curve
Supply curve
Cost curve
Profit curve
Correct answer is B
No explanation has been provided for this answer.
Internal economies of scale
Economies of scale
Market economies
External economies
Correct answer is D
No explanation has been provided for this answer.
The short-run equilibrium output for a monopolist is determined by the
Highest point on the total revenue curve
Minimum point on the average revenue and the average cost curve
Intersection of the average revenue and the average cost curves
Intersection of the marginal cost and marginal revenue curves
Correct answer is C
No explanation has been provided for this answer.