Unit 3: Production, Cost, and the Perfect Competition Model

/ Unit 3: Production, Cost, and the Perfect Competition Model

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You’ll explore the factors that drive the behavior of companies and learn about the perfect competition model.

Question Difficulty:

Question	Difficulty	Students Solved
Economies of Scale and LRATC	medium	26
Tax Incidence With Elastic Demand	medium	24
Average Total Cost and Long-Run Decisions	medium	21
Short-Run and Long-Run Production	medium	21
Comparing Perfect and Monopolistic Competition	medium	20
Overcoming Diminishing Marginal Returns	medium	21
Profit Maximization and the Shutdown Rule	easy	21
Minimum Efficient Scale	easy	14
Short-Run Average Fixed Cost	easy	12
Long-Run Effects of a Price Ceiling	medium	17
Economic Versus Accounting Profit	easy	10
Oligopoly Collusion Breakdown	medium	10
Production Function and Technological Change	easy	15
Minimum Average Total Cost	easy	6
Rental Rate of Capital and Short-Run Cost	medium	11
Production Function Returns to Scale	easy	5
Calculating Average Variable Cost	easy	9
Technology and Average Total Cost	easy	7
Characteristics of Market Structures	easy	10
Profit Maximization in Perfect Competition	easy	11

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1 – 20 of 1605

Rank	User	Correct Count	Attempt Count	Time	Score
#1	e11102akshara	179	201	0m 00s	17,680
#2	jcbaird17	139	164	6m 40s	13,250
#3	jsm31665	64	80	0m 00s	6,240
#4	haydenfung7	60	78	0m 00s	5,820
#5	hubowen09	45	51	1m 14s	4,366
#6	hxuna0217	42	65	0m 00s	3,970
#7	jasmineleung1007	61	118	35m 50s	3,380
#8	yewonhg	36	60	0m 00s	3,360
#9	ijiwon073	32	32	0m 00s	3,200
#10	105159patrickbasketball	30	34	0m 00s	2,960

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