The market model with the largest number of firms is:A. oligopoly B. pure monopoly C. pure competition D. monopolistic competition


You are watching: Which characteristic would best be associated with pure competition

Which characteristic would best be associated with pure competition?A. few sellers B. price taker C. non-price competition D. product differentiation
Price is constant or "given" to the individual firm selling in a purely competitive market because: A. the firm"s demand curve is downward slopingB. there are no good substitutes for the firm"s product C. each seller supplies a negligible fraction of total supplyD. product differentiation is reinforced by extensive advertising
A purely competitive firm does not try to sell more of its product by lowering its price below the market price because:A. its competitors would not permit tiB. it can sell all it wants to at the market price C. this would be considered unethical price chiseling D. its demand curve is inelastic, so total revenue will decline
Which is a reason why there is no advertising by individual firms under pure competition?A. firms produce a homogenous product B. The quantity of the product demanded is very large C. The market demand curve cannot be increased D. Firms do not make long-run profits
In pure competition, the marginal revenue of a firm always equals:A. product price B. total revenue C. average total cost D. marginal cost
In pure competition, the average revenue of a firm always equals:A. marginal cost B. average total cost C. marginal revenue D. total revenue
Refer to the above graph for a firm in pure competition. Line A represents:A. total revenue B. average revenue C. average total cost D. average fixed cost
Total revenue for producing eight units of output is $48. Total revenue for producing nine units of output is $63. Given this information, the: A. average revenue for producing nine units is $1B. average revenue for producing nine units is $15 C. marginal revenue for producing the ninth unit is $1D. marginal revenue for producing the ninth unit is $15
Assume the price of a product sold by a purely competitive firm is $5. Given the date in the accompanying table, at what output is total profit highest in the short run?A. 20B. 30C. 40D. 50
Given the table below, what is the short-run profit-maximizing level of output for the firm?A. 2 unitsB. 3 units C. 4 units D. 5 units
Let us suppose Harry"s, a local supplier of chili and pizza, has the following revenue and cost structureA. harry"s should stay open in the long B. Harry"s should shut down in the short run C. Harry"s stay open in the short run D. Harry"s should shut down in the short run but reopen in the long run
*

*

*



See more: Shiradi Sai Baba Pictures Download For Free, Sai Baba Pictures