A loss bearing firm will continue to produce in the short run so long as the price at least covers:
Average variable cost
Average fixed cost
Average variable cost + average fixed cost
Marginal costs
- The basic subject matter of economics is:
- Elasticity of Substitution (s) is defined as:
- Nash Equilibrium is stable:
- MC = MR = AC = AR shows the long run equilibrium position of the:
- Implicit costs are the costs:
- At the point where the straight line from the origin is tangent to the TC curve, AC is:
- In modern cost theory, AVC= b1 and MC= b1 in the range of:
- An individual consumers demand is not determined by:
- Ordinal approach includes arranging:
- Money spent by a firm on the purchase of capital equipment is:
- Under pure monopoly, there will be:
- Identify the work of T.W.Schultz:
- The Input-Output Analysis was originated by:
- Nash equilibrium says:
- In repeated game, the Prisoners Dillemma can have a:
- Plumbing and pipe-fitting require many of the same skills. If the wage paid to pipe-fitters increased…
- In case of monopoly, when total revenue is maximum:
- Microeconomics deals with the:
- If under perfect competition, in the short period, price does not cover the average cost completely,…
- According to law of Equi-Marginal Utility when price of commodity falls then we bought:
- If Cobb-Douglas production function is homogeneous of degree less than one (n
- According to classical approach, utility can be:
- The modern cost curves are based upon the idea of:
- Airlines that try to lower fares in order to increase revenues believe that demand for airline services…
- Each firm in cournot model can:
- Government planners play a central role in allocating resources:
- Marginal cost is the cost:
- The cost that a firm incurs in purchasing or hiring any factor of production is referred to as:
- The consumer is in equilibrium at the where:
- If the prices of goods rise then: