Perfect Competition
Quiz
•
Social Studies, Other
•
University
•
Practice Problem
•
Medium
Bekah Selby
Used 111+ times
FREE Resource
Enhance your content in a minute
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
MC crosses the ATC and AVC
where you draw it
at its lowest point
where MR=MC
None of the above
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following markets is closest to perfectly competitive?
airlines
wheat
cell phones
textbooks
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT an assumption of perfect competition
perfect information
free entry and exit
different goods
lots of buyers/sellers
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The market for milk is an example of perfect competition. Why?
5.
FILL IN THE BLANK QUESTION
1 min • 1 pt
The market price is $10. Marginal revenue for the 10th unit would be
6.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
What is the profit maximizing condition?
MR = D
MR = MC
MC = D
D = Profits
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Suppose a firm in a perfectly competitive market faces a price which is lower than their average cost (ATC) but higher than their average variable costs (AVC). In the short run, this firm should
shut down
exit the industry
raise the price
produce where MC=MR
Access all questions and much more by creating a free account
Create resources
Host any resource
Get auto-graded reports

Continue with Google

Continue with Email

Continue with Classlink

Continue with Clever
or continue with

Microsoft
%20(1).png)
Apple
Others
Already have an account?
Similar Resources on Wayground
15 questions
Football Quiz
Quiz
•
KG - Professional Dev...
10 questions
Exoictic cars.
Quiz
•
5th Grade - Professio...
10 questions
Capital Budgeting and Capital Ratioining Quiz
Quiz
•
University
10 questions
Financial Crisis
Quiz
•
University
15 questions
UAS AKUNTANSI MANAJEMEN
Quiz
•
University
10 questions
Dental Amalgam Quiz
Quiz
•
University
10 questions
Study Quest KSU STC initiative
Quiz
•
University
10 questions
Pop Quiz
Quiz
•
University
Popular Resources on Wayground
15 questions
Fractions on a Number Line
Quiz
•
3rd Grade
20 questions
Equivalent Fractions
Quiz
•
3rd Grade
25 questions
Multiplication Facts
Quiz
•
5th Grade
22 questions
fractions
Quiz
•
3rd Grade
20 questions
Main Idea and Details
Quiz
•
5th Grade
20 questions
Context Clues
Quiz
•
6th Grade
15 questions
Equivalent Fractions
Quiz
•
4th Grade
20 questions
Figurative Language Review
Quiz
•
6th Grade
Discover more resources for Social Studies
12 questions
IREAD Week 4 - Review
Quiz
•
3rd Grade - University
23 questions
Subject Verb Agreement
Quiz
•
9th Grade - University
7 questions
Force and Motion
Interactive video
•
4th Grade - University
7 questions
Renewable and Nonrenewable Resources
Interactive video
•
4th Grade - University
5 questions
Poetry Interpretation
Interactive video
•
4th Grade - University
19 questions
Black History Month Trivia
Quiz
•
6th Grade - Professio...
15 questions
Review1
Quiz
•
University
15 questions
Pre1
Quiz
•
University
