In Perfect Competition, a Change in Fixed Cost Will

question 124

Multiple Choice

In perfect competition, a change in fixed cost will:

• A) cause a change in the price in the short run.
• B) cause a change in output in the short run.
• C) encourage entry or exit in the long run so that price will change enough to leave firms earning zero profits.
• D) cause a change in variable cost.

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Definitions:

Program Analyses

Systematic evaluations of the processes and outcomes of a program to understand its effectiveness, efficiency, and impact.

Program Evaluation

The systematic collection of information about the activities, characteristics, and outcomes of programs to make judgments, improve effectiveness, and/or inform decisions about future programming.

Metaevaluation

The process of evaluating the methods and processes used in an evaluation to assess their accuracy, effectiveness, and quality.

Evaluation Trail

The systematic assessment of the path and outcomes of reasoning, decision-making, or the implementation of an intervention, often for accountability purposes.