A. Demand more price inelastic
B. Supply more price inelastic
C. Demand more income elastic
D. Supply more income elastic
Correct Answer: Supply more income elastic ✔
Last Updated: June 11, 2019
Related MCQs
- For a competitive firm, its short run supply curve is _____ and its long run supply curve is _____?
- In the short run a firm will produce zero output if ?
- Short run average total costs are equals to the sum of ____ and _____?
- When average cost is falling marginal cost is ________ and when average cost is rising marginal cost is?
- If a long run average cost curve is falling form left to right this is an example of ?
- In monopolistic competition ?
- If a firm takes over a competitor then, according to porter’s 5 forces model ?
- In monopolistic competition of firms are making abnormal profit other firms will enter and ?
- Which of the following is not one of the four Ps in marketing ?
- In monopolistic competition ?
- in long-run equilibrium in a competitive market, firms are operating at ?
- If an input necessary for production is in limited supply so that an expansion of the industry raises costs for all existing firms in the market, then the long-run market supply curve for a good could be ?
- In the long-run some firms will exit the market if the price of the good offered for sale is less than ?
- A grocery store should close at night if the ?
- In the short run, the competitive firm’s supply curve is the portion of the marginal cost curve that lies above the average variable cost curve?
- The competitive firm maximize profit when it produces output up to the point where ?
- If a competitive firm doubles its output its total revenue ?
- Which of the following is not a characteristic of a competitive market ?
- In the long run in perfect competition ?
- In perfect competition ?
- In perfect competition ?
- In perfect competition ?
- In perfect competition ?
- A competitive firm produces a level of output at which ?
- A competitive firm demand curve is ?
- For perfect competition to work there must be ?
- In a competitive industry each buyer and seller ?
- Holding all factors constant except one and increasing a variable factor is expected to lead to steadily decreased marginal product of that factor, this is an example of ?
- The short run marginal cost curve cuts the short run total cost curve and short run average variable cost curve ?
- The firms long run output decision will be where ?
- If a firm is not operating at the output necessary to achieve all scale economies, it has not achieved its ?
- Decrease returns to scale means that ____ as ______?
- A production is technique is technically efficient if ?
- In marketing “USP” stands for ?
- In Porter’s five force model conditions are more favorable for firms within an industry if ?
- In monopolistic competition firms profit maximize where ?
- In monopolistic competition ?
- If the long-run market supply curve for a good is perfectly elastic, an increase in the demand for that good will, in the long run, cause ?
- If all firms in a market have identical cost structures and if inputs used in the production of the good in that market are readily available, then the long-run market supply curve for that good should be ?
- The long-run market supply curve ?
- In the long run, the competitive firm’s supply curve is the ?
- If a competitive firm is producing a level of output where marginal revenue exceeds marginal cost the firm could increase profit if it ?
- For a competitive firm, marginal revenue is ?
- Which of the following market would most closely satisfy the requirements for a competitive market ?
- For a perfectly competitive firm ?
- In the short run firms in perfect competition will still produce provided ?
- In the long run in perfect competition ?
- A profit maximizing firm is perfect competition produces where ?
- Firms in perfect competition face a?