A firm under perfect competition has:

A. An AR curve which is a horizontal straight line

B. An AR curve which slopes downward

C. An AR curve which has a kink

D. An AR curve shape of which cannot be predicted

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

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  1. The situation in between the extremes of the govt. controlled, planned economy and the perfectly free,…
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  12. Which of the following is called Gossens first law?
  13. The Prisoners Dilemma was presented by A.W.Tucker in:
  14. The elasticity of demand is equal to slope of demand function divided by:
  15. The MC curve cuts the AVC and ATC curves:
  16. Which is the correct statement?
  17. If the commodity is inferior then the Income Effect (I.E) and the Substitution Effect (S.E):
  18. Marginal Utility (MU) curve is always:
  19. An inferior commodity is one whose quantity demand decreases when income of the consumer:
  20. While buying two goods X and Y with unequal prices, to maximize total utility from his income, a consumer…
  21. For monopolistic competitive firm:
  22. The difference between accounting profits and economic profits is:
  23. Who finalized the model of imperfect competition?
  24. If money income is given then consumer is in equilibrium when:
  25. If the price of coffee increases, you would predict that:
  26. The cost of firms in cournot model are:
  27. Law of Variable Proportions is regarding in:
  28. The Hicksian indirect utility function in the form of equation is:
  29. The utility function u = f(x) is based upon :
  30. Of the following, which one is a characteristic of monopolistic competition?