Which one of the following statements is FALSE? Question options: ATC = AFC + AV

Question

Which one of the following statements is FALSE? Question options: ATC = AFC + AVC AFC = TFC divided by Q MC = TC divided by Q TC = TFC + TVC

Under perfect competition, a firm that sets its price slightly above the market price would Question options: make lower profits than the other firms, but the amount would depend on the elasticity of demand. lose all of its customers. earn higher profits as long as the other firms continued to charge the market price.
make a normal rate of return, but on reduced revenues.
A monopoly will look for opportunities to price discriminate because the practice Question options: leads to selling more units. allows it to charge higher prices. leads to greater profits. is desired by customers.
Which one of the following statements is FALSE? Which one of the following statements is FALSE? ATC = AFC + AVC AFC = TFC divided by Q MC = TC divided by Q TC = TFC + TVC
ATC = AFC + AVC AFC = TFC divided by Q MC = TC divided by Q TC = TFC + TVC
Under perfect competition, a firm that sets its price slightly above the market price would Question options: make lower profits than the other firms, but the amount would depend on the elasticity of demand. lose all of its customers. earn higher profits as long as the other firms continued to charge the market price.
make a normal rate of return, but on reduced revenues.
A monopoly will look for opportunities to price discriminate because the practice Question options: leads to selling more units. allows it to charge higher prices. leads to greater profits. is desired by customers.
Under perfect competition, a firm that sets its price slightly above the market price would Under perfect competition, a firm that sets its price slightly above the market price would make lower profits than the other firms, but the amount would depend on the elasticity of demand. lose all of its customers. earn higher profits as long as the other firms continued to charge the market price.
make a normal rate of return, but on reduced revenues.
A monopoly will look for opportunities to price discriminate because the practice Question options: leads to selling more units. allows it to charge higher prices. leads to greater profits. is desired by customers.
make lower profits than the other firms, but the amount would depend on the elasticity of demand. lose all of its customers. earn higher profits as long as the other firms continued to charge the market price. make a normal rate of return, but on reduced revenues.
A monopoly will look for opportunities to price discriminate because the practice Question options: leads to selling more units. allows it to charge higher prices. leads to greater profits. is desired by customers. A monopoly will look for opportunities to price discriminate because the practice A monopoly will look for opportunities to price discriminate because the practice leads to selling more units. allows it to charge higher prices. leads to greater profits. is desired by customers. leads to selling more units. allows it to charge higher prices. leads to greater profits. is desired by customers.
ATC = AFC + AVC AFC = TFC divided by Q MC = TC divided by Q TC = TFC + TVC

Explanation / Answer

Q1) Which one of the following statements is FALSE?

Answer- MC = TC divided by Q

Q2) Under perfect competition, a firm that sets its price slightly above the market price would

Answer- make lower profits than the other firms, but the amount would depend on the elasticity of demand

Q3) A monopoly will look for opportunities to price discriminate because the practice

Answer- leads to greater profits.

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