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A market-clearing price:

A. Is a disequilibrium price

B. Is an equilibrium price

C. Means a shortage exists as a market is cleared

D. Must be set by the government

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

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  1. If Marginal Utility (MU) is zero, then total utility is:
  2. The optimum level of output in long run takes place where:
  3. At final equilibrium in cournot model, each firm sells:
  4. Under monopolistic competition, in long-run there is:
  5. The vertical distance between TVC and TC is equal to:
  6. Change in demand (rise and fall of demand) is:
  7. The advantage of using indifference curves rather than marginal utilities is:
  8. For a commodity giving large consumers surplus, the demand will be:
  9. The feasible part of the demand curve for the monopolist who is charging high price will be:
  10. When the slope of a demand curve is zero (also known as vertical demand curve) then elasticity will…
  11. Price discrimination is undertaken with the aim of:
  12. In discriminating monopoly (price discrimination), the cost of production in two markets are:
  13. Diminishing returns occur when a firm:
  14. Total costs are:
  15. The slope of the iso-cost line (budget line) is determined by:
  16. If a good is an inferior good then an increase in incomes of the consumers will:
  17. The combination of labor and capital where the cost of a given output is minimized is known as:
  18. Which of the following is not an explicit cost of production?
  19. A demand schedule is shown as:
  20. Marginal cost curve cuts the average cost curve:
  21. A producer attains the least cost combination when the relation between Marginal Rate of Technical Substitution…
  22. An inferior commodity is one whose quantity demand decreases when income of the consumer:
  23. Economics is a:
  24. All of the following curves are U-Shaped except:
  25. The game theory concentrates on:
  26. In modern theory, LAC = LMC after the attainment of:
  27. A monopoly producer usually earns:
  28. Production function shows:
  29. In modern cost theory, AVC= b1 and MC= b1 in the range of:
  30. Plumbing and pipe-fitting require many of the same skills. If the wage paid to pipe-fitters increased…