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3 Written Questions

2 Multiple Choice Questions

  1. is minimum of AVC curve
  2. is minimum of ATC curve

2 True/False Questions

  1. Meaning of Perfectly Comp Markets1. Many buyers and many firms, all of which are small relative to the overall market
    2. Products sold are identical
    3. No barriers to new firms entering (or on firms exiting)

          

  2. Long-run equilibrium in a perfectly competitive market1. Many buyers and many firms, all of which are small relative to the overall market
    2. Products sold are identical
    3. No barriers to new firms entering (or on firms exiting)

          

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