Economic help w/homework part 1?

Question

1.Which of the following is a consequence of competition?

a) An unrelenting squeeze on prices and profit

b) Zero economic profit in the long run

c) Elimination of the least efficient firms

d) All of above

2.As new firms enter a competitive market:

a) The equilibrium market price falls

b) The equilibrium market quantity falls

c) The market supply curve shifts to the left

d) Profits for existing firms will increase

3.The exit of firms from a market, ceteris paribus:

a) Shifts the market supply curve to the right

b) Reduces the economic losses of remaining firms in the market

c) Increases the equilibrium output in the market

d) All of above

4.Marginal cost is the increase in total cost associated with a one unit:

a)Increase in production

b)Increase in input usage

c)Decrease in production

d)Decrease in input usage

i think i know a couple but i don't want to influence your answers LOL!

Answer 1

1- D

2- A

3- B

4- A

Answer 2

1. c

2. a

3. b

4. a

Answer 3

i'd go with

1d

2a

3b

4a