A firm can never produce in the middle area of input space, in case of:
Concave isoquant
Convex isoquant
Constant isoquant
None of the above
- In modern theory of costs, a firm normally utilizes:
- The cobweb model will divergent when the slope of:
- Marginal utility means:
- Time Preference Theory of Interest was presented by:
- Abstinence or Waiting theory of Interest was presented by:
- Which is not an essential feature of a socialist economy?
- In cournot model, at equuilibrium when MC = MR, the elasticity of demand is:
- Engel curves shows that:
- If two goods are complements then indifference curve (IC) will be:
- The production function of homogeneous of degree one (n=1) is also called:
- 4.The Law of Diminishing Returns according to the modern view, applies to:
- The falling part of total Utility (TU) curve shows:
- Each SAC represents a particular level of:
- The total utility (TU) curve is:
- General equilibrium is concerned with simultaneous equilibrium of:
- If the production function is homogeneous, the expansion path will be a straight line through the origin…
- In the case of a giffen good, the income effect:
- In monopolistic competition, the firms follow:
- Economic problems arise because:
- Price effect occurs on the higher IC in case of:
- Demand of a commodity is elastic when:
- At a point where a straight line demand curve meets the price axis (Y-axis), the elasticity of demand…
- Under which of the following forms of the market structure does a firm have no control over the price…
- If as a result of an increase in prices, total outlay (expenditures) on a commodity decreases, its price-elasticity…
- Which industries spend a relatively large share of their revenue on research and development in order…
- If there are many firms producing similar but differentiated products, the competition is generally…
- MC curve is:
- Efficient allocation of resources is likely to be achieved under:
- In economic term water is a:
- In monopoly: