超星 - Ch 14 Firms in Competitive Markets

单选题

A key characteristic of a competitive market is that

A. government antitrust laws regulate competition.
B. producers sell nearly identical products.
C. firms minimize total costs.
D. firms have price setting power.

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单选题

Suppose a firm in a competitive market increases its output by 25 percent. As a result, the price of its output is likely to

A. decline by 25 percent.
B. remain unchanged.
C. increase by less than 25 percent.
D. decline by more than 25 percent.

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单选题

If a firm in a perfectly competitive market triples the quantity of output sold, then total revenue will

A. less than triple.
B. more than triple.
C. exactly triple.
D. be reduced by one third.

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