Title: ECON 202 Chapter 10 - Subjecto.com
Headings: ECON 202 Chapter 10
ECON 202 Chapter 10
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Content: Which of the following is not a basic characteristic of pure competition? Considerable nonprice competition. A purely competitive seller should produce (rather than shut down) in the short run: if total revenue exceeds total cost or if total cost exceeds total revenue by some amount less than total fixed cost. (Consider This) An unprofitable motel will stay open in the short run if: price (average nightly room rate) exceeds average variable cost. « Previous Flashcard Next Flashcard »
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