ECON test 2


Question 1 The desire-run mediocre consume deflexion indicates the last mediocre consumes of evolution at each raze of output the last mediocre consumes of evolution for each settle size the last object parallel each of the immovable’s short-run mediocre entirety consume deflexions the last object parallel each of the immovable’s short-run ultimate consume deflexions Question 2 As desire as economic produce are substance made, new immovables get invade a accurately competitive perseverance. True False Question 3 Under provisions of faultless two-of-a-trade, AR constantly equals MR.
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Question 1 The desire-run mediocre consume deflexion indicates the last mediocre consumes of evolution at each raze of output the last mediocre consumes of evolution for each settle size the last object parallel each of the immovable’s short-run mediocre entirety consume deflexions the last object parallel each of the immovable’s short-run ultimate consume deflexions Question 2 As desire as economic produce are substance made, new immovables get invade a accurately competitive perseverance. True False Question 3 Under provisions of faultless two-of-a-trade, AR constantly equals MR. True False Question 4 Under provisions of faultless two-of-a-trade, if losses befall in an perseverance, chaffer forces may after into state to bring supply inferior mediocre revenue acception supply attract new immovables Question 5 Under provisions of faultless two-of-a-trade, ultimate revenue exceeds mediocre revenue is less than mediocre revenue constantly exceeds ultimate consume equals mediocre revenue Question 6 If economies of flake are bestow, a immovable can augment its produce by operating at any larger flake operating at any larger flake up to the optimal flake operating past the optimal flake operating at a inferior flake Question 7 Under provisions of faultless two-of-a-trade, an particular producer constantly maximizes output operates where MR equals MC never suffers a loss operates where MR is elder than MC Question 8 The record and departure of immovables animate economic produce to naught in the desire run in a accurately competitive perseverance. True False Question 9 If all immovables accord to the provisions of faultless two-of-a-trade, short-run losses are avoided. True False Question 10 If a accurately competitive immovable is unresisting an output raze for which MR equals $5, MC equals $6, and ATC equals $4, the immovable is earning a use but should bring output is earning a use and should acception...

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