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Gillespie: Foundations of Economics 2e

Unit 11

Instructions

Choose your answer by clicking the radio button next to your choice and then press 'Submit' to get your score.

Question 1

Firms in perfect competition face a:

Question 2

In perfect competition:

Question 3

A profit maximizing firm in perfect competition produces where:

Question 4

In perfect competition:

Question 5

In the long run in perfect competition:

Question 6

In perfect competition:

Question 7

In perfect competition:

Question 8

In the short run firms in perfect competition will still produce provided:

Question 9

In the long run equilibrium in perfect competition:

Question 10

For a perfectly competitive firm: