MEDIUM
12th CBSE
IMPORTANT
Earn 100

Will a profit-maximizing firm in a competitive market produce a positive level of output in the long run if the market price is less than the minimum of AC? Give an explanation.

Important Questions on The Theory of the Firm Under Perfect Competition

HARD
12th CBSE
IMPORTANT
Introductory Microeconomics>Chapter 4 - The Theory of the Firm Under Perfect Competition>Q 12
What is the supply curve of a firm in the short run?
HARD
12th CBSE
IMPORTANT
Introductory Microeconomics>Chapter 4 - The Theory of the Firm Under Perfect Competition>Q 13
What is the supply curve of a firm in the long run?
MEDIUM
12th CBSE
IMPORTANT
Introductory Microeconomics>Chapter 4 - The Theory of the Firm Under Perfect Competition>Q 14
 How does technological progress affect the supply curve of a firm? 
MEDIUM
12th CBSE
IMPORTANT
Introductory Microeconomics>Chapter 4 - The Theory of the Firm Under Perfect Competition>Q 15
How does the imposition of a unit tax affect the supply curve of a firm?
MEDIUM
12th CBSE
IMPORTANT
Introductory Microeconomics>Chapter 4 - The Theory of the Firm Under Perfect Competition>Q 16
How does an increase in the price of an input affect the supply curve of a firm? 
MEDIUM
12th CBSE
IMPORTANT
Introductory Microeconomics>Chapter 4 - The Theory of the Firm Under Perfect Competition>Q 17
 How does an increase in the number of firms in a market affect the market supply curve? 
EASY
12th CBSE
IMPORTANT
Introductory Microeconomics>Chapter 4 - The Theory of the Firm Under Perfect Competition>Q 18
 What does the price elasticity of supply mean? How do we measure it?
HARD
12th CBSE
IMPORTANT
Introductory Microeconomics>Chapter 4 - The Theory of the Firm Under Perfect Competition>Q 19

Compute the total revenue, marginal revenue, and average revenue schedules in the following table. The Market price of each unit of the good is Rs10.

Quantity Sold TR MR AR
0      
1      
2      
3      
4      
5      
6