A firm is a sum of persons who convert:

A. Goods into services

B. Output into inputs

C. Inputs into outputs

D. None of the above

Please do not use chat terms. Example: avoid using "grt" instead of "great".

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  1. In perfect cartel, the:
  2. In the case of superior (normal) commodity, the income elasticity of demand is:
  3. The production possibility curve (PPC) is concerned with:
  4. Identify the author of The Principles of political Economy and Taxation:
  5. Stable cobweb model is a:
  6. If X and Y are close substitutes, a rise in the price of X will lead to:
  7. Extension (expansion) of demand means:
  8. Classical production function is:
  9. Which of the following is assumed to be constant when drawing a demand curve?
  10. With elasticity of demand, the:
  11. In monopolistic competition (also in kinked demand curve model), a firm sells the amount where:
  12. The game theory is concerned with:
  13. In the modern theory of costs, the level of production which the firm considers feasible is known as:
  14. Marginal cost curve cuts the average cost curve:
  15. Which describes a competitive market?
  16. The output where TC = TR & AC = AR:
  17. The isoquant approach is:
  18. The slope of isocost line (budget line) shows:
  19. Total Utility (TU) curve:
  20. The slope of an iso-quant represents:
  21. The substitution effect works to encourage a consumer to purchase more of a product when the price of…
  22. The main contribution of Prof.Robbins is in the field of:
  23. In cournot model, during the process of adjustment, the number of firms:
  24. On a straight line demand curve, elasticity of demand at the midpoint is:
  25. If the commodity is normal then fall in price will result in:
  26. Liquidity of Preference Theory was introduced by:
  27. If the supply and demand increases equally, the price will:
  28. In monopolistic competition, the firms have to face:
  29. In monopolistic competition, because of difference in choices, the firm charges:
  30. In case of monopoly, the slope of MR is: