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7.The costs which the firms have to face in order to change the price tags of their products and services are called:

A. Product costs

B. Real costs

C. Menu costs

D. Nominal costs

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  1. The optimum level of output in long run takes place where:
  2. When at a given price, the quantity demanded of a commodity is more than the quantity supplied, there…
  3. The factors of production in perfect competition are:
  4. In perfect cartel, the:
  5. Which of the following does not have a uniform elasticity of demand at all points?
  6. Dumping is international discriminating:
  7. Classical production function is:
  8. Indifference curves reflect:
  9. The entry of new firms in cournot model is:
  10. Under perfect competition, the average revenue, marginal revenue and price are shown:
  11. The difference between accounting profits and economic profits is:
  12. According to classical approach, utility can be:
  13. In perfectly competitive markets, the profit maximization rule can be represented by:
  14. In terms of price, the indirect utility function may be:
  15. In cournot model firms:
  16. The number of sellers in oligopoly are:
  17. Increasing return to scales can be explained in terms of:
  18. Formulation of an economic theory involves:
  19. Identify the author of The Principles of political Economy and Taxation:
  20. If the commodity is normal then Income Effect (I.E) is:
  21. Decrease in demand results in:
  22. In the long run:
  23. The production possibility curve (PPC) is concerned with:
  24. If the demand curve remains unchanged and supply increases, the price will:
  25. The arc elasticity is the measure of average elasticity at the mid-point of the chord and connects:
  26. Total profits are maximized at the point where:
  27. In Prisoner Dilemma, the best choice of strategy is:
  28. The cost that a firm incurs in purchasing or hiring any factor of production is referred to as:
  29. Who is the author of the famous work Asian Drama: An Enquiry intro the Causes of Poverty of Nations?
  30. The main contribution of Prof. Lord Keynes is in the field of: