MCQ
Under perfect competition, a firm can earn:
- ✓normal profits in the long run
- Bsuper normal profits in the long run
- Csub-normal profits in the long run
- Dall of these
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| Column I | Column II |
| A. Consumer equilibrium | (i) When consumption of an additional unit leads to dissatisfaction |
| B. TU | $\frac{ MU _{ X }}{ P _{ X }}=\frac{ MU _{ Y }}{ P _{ Y }}= MU _{ M }$ |
| C. MU curve | (iii) Slopes downwards from left to right |
| D. Negative MU | (iv) ΣΜU |