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ECS2601 BMZ ASSESSMENT 4 SEMESTER 2 2024 MASTER In a perfectly competitive industry, the amount of output that a rm decides to sell has no effect on the market price, because… a. the rm’s output is a small fraction of the entire industry’s output. b. tR50,00
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ECS2601 BMZ ASSESSMENT 4 SEMESTER 2 2024 MASTER In a perfectly competitive industry, the amount of output that a rm decides to sell has no effect on the market price, because… a. the rm’s output is a small fraction of the entire industry’s output. b. t
ECS2601 BMZ ASSESSMENT 4 SEMESTER 2 2024 MASTER
In a perfectly competitive industry, the amount of output that a rm decides to sell has no effect on the market price, because…
a. the rm’s output is a small fraction of the entire industry’s output.
b. the rm supplies a different good th...
A firm producing six units of output has an average total cost of R200 and has to pay R300 to its fixed factors of production.
The average variable cost is …
a. R200.
b. R300.
c. R50.
d. R150.
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Question 4
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A sales tax of R1 per unit of output is placed on a particular firm whose product sells for R5 in a competitive industry with
many firms.
What will happen to the firm’s price?
a. Increase
b. Remain the same
c. Decrease.
d. More information is needed to determine what will happen to the price.
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