If a Firm Has a Downward-Sloping Long-Run Average Cost Curve

question 118

Multiple Choice

If a firm has a downward-sloping long-run average cost curve over the entire range of market demand,it is a _____firm in an oligopolistic market.

• A)firm in a monopolistic market.
• B)firm in a perfectly competitive market.
• C)firm in a monopsony market.
• D)firm in an oligopolistic market.
• E)natural monopoly.

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Definitions:

Policies

A set of principles or guidelines formulated or adopted by an organization to reach its long-term goals and typically published in a booklet or other form that is widely accessible to employees.

Operating Budgets

Detailed projections that outline the expected income and expenses for an organization over a specific period, guiding its business operations.

Labour

The physical and mental effort used in the production of goods and services.

Equipment

Tools, machinery, or other apparatus necessary for the performance of specific tasks.