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A firm will be in equilibrium when the lowest isocost is:

A. Tangent to the lowest isoquant

B. Tangent to the given isoquant

C. Above the given isoquant

D. Below the given isoquant

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

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  1. If a monopolist is producing under decreasing cost conditions, increase in demand is beneficial to the…
  2. By increasing the price of its products above those of its competitors, a perfectly competitive seller:
  3. Marginal cost curve cuts the average cost curve:
  4. In the short-run, in which one of the following situations would a competitive seller close down (shut-down)?
  5. In case of economic bads, an IC can be :
  6. In monopoly, the relationship between average revenue and marginal revenue curves is as follows:
  7. The firm is at equilibrium where:
  8. The price consumption curve (PCC) for commodity X is the locus of points of consumer equilibrium resulting…
  9. Which of the following formula determine the income elasticity of demand?:
  10. Under price discrimination, the buyers must:
  11. The difference between laws of return and laws of return to scale is:
  12. Least cost combination of two factor inputs is achieved at a point where:
  13. The market demand shedule is determined by:
  14. Selling costs are incurred under monopolistic competition to:
  15. With firms having cost differences under perfect competition, a firm, which earns normal profit in the…
  16. Price-taker firms:
  17. In the long-run competitive equilibrium:
  18. In an indifference curve diagram, when the price of a product increases, the decline in quantity demanded…
  19. The vertical distance between TVC and TC is equal to:
  20. At final equilibrium in cournot model, each firm sells:
  21. The main objective of the firm is to:
  22. A country is advised to devalue (reduce external value of) its currency only when its exports face:
  23. The act of producing the output from more than one plant is concerned with:
  24. The largest possible loss that a firm will make in the short run is:
  25. If the factors have to be employed in a fixed ratio, then the elasticity of substitution under Leontief…
  26. A firm can never produce in the middle area of input space, in case of:
  27. Under monopolistic competition, the products sold by the firms are:
  28. When price increases and with it the total outlay on a commodity also increases, it is a case of:
  29. In Edgeworth model, price remains:
  30. Which of the following pairs of commodities is an example of substitutes?