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ECON 1B03 (700)
Lecture

ECON 1B03 Lecture Notes - Deadweight Loss, Nash Equilibrium, Average Variable Cost


Department
Economics
Course Code
ECON 1B03
Professor
Bridget O' Shaughnessy

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Chapters 14, 15, 16, 17, 18, 19, 11, and 21

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1) In perfect competition, the marginal
revenue curve
A) and the demand curve facing the firm are
identical.
B) is always above the demand curve facing
the firm.
C) is always below the demand curve facing
the firm.
D) intersects the demand curve when
marginal revenue is minimized.

Only pages 1-3 are available for preview. Some parts have been intentionally blurred.

1) In perfect competition, the marginal
revenue curve
A) and the demand curve facing the firm are
identical.
B) is always above the demand curve facing
the firm.
C) is always below the demand curve facing
the firm.
D) intersects the demand curve when
marginal revenue is minimized.
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