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United StatesMicroeconomicsQuick questions
Unit 3: Production, Cost, and the Perfect Competition Model
Quick questions on Perfect Competition - AP Microeconomics Topic 3.7
2short Q&A pairs drawn directly from our worked dot-point answer. For full context and worked exam questions, read the parent dot-point page.
What is q1?Show answer
State the demand curve a perfectly competitive firm faces and what it implies about price and marginal revenue. [2 points]
What is q2?Show answer
State the two efficiency conditions met in the long-run perfectly competitive equilibrium. [2 points]
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