201-tutorial-9 questions to student for examination preparation PDF

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questions to student for examination preparation...

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Econ 201 Tutorial #9 Date: Week of Mar. 22-28, 2010 Coverage: Chapter 9 Perfect Competition I. 1.

Multiple Choice Questions: The perfectly competitive firm’s short run supply curve is the upward-sloping part of its a. Average variable cost curve, at all points above the point of AVCmin. b. Marginal cost curve, at all points above the point of AFCmin. c. Marginal revenue curve, at all points above the point of minimum average revenue. d. Marginal revenue curve, at all points above the point of minimum average total cost. e. Marginal cost curve, at all point above the point of AVCmin.

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A perfectly competitive firm will produce output in the short run even if P...