Question: T or F: A decrease in the cost of fire insurance for one competitive firm only will not cause any change in its behavior (draw

T or F: A decrease in the cost of fire insurance for one competitive firm only will not cause any change in its behavior (draw a diagram)

T or F: If just one competitive firm becomes more efficient, which lowers its variable costs, the only thing it should do is lower its price to get more customers. (Draw diagram)

Suppose the government subsidizes only the fixed costs of one competitive firm. T or F: the firm will increase output. (Draw a diagram)

T or F: An increase in fixed costs will make all firms in a competitive industry worse off. (Draw a diagram)

T or F: A fail in the price of labor will permanently lower the price of output in a competitive industry. (Draw a diagram)

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