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Question Practice

If the market price is greater than the minimum average cost, what is likely to occur?

Attempt the question, check the explanation, and continue with similar questions to build confidence before exams.

MCQ_SA
CBSE
Class 12
Economics
Introductory Microeconomics
Market Equilibrium
Question Bank

If the market price is greater...

Single Answer MCQ
Q-00089615

If the market price is greater than the minimum average cost, what is likely to occur?

1

Firms will exit the market

2

Firms will earn normal profits

3

New firms will enter the market

4

Existing firms will reduce output

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What occurs at a price above the equilibrium price?

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Q4.

What is the equilibrium price in a perfectly competitive market?

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