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A monopolist is able to maximize his profit when:

A. His output is maximum

B. He charges a high price

C. His average cost is minimum

D. His marginal revenue is equal to marginal cost

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  1. The cost of firms in cournot model are:
  2. Discriminating monopoly implies that the monopolist charges different prices for his commodity:
  3. In real life firms:
  4. One way the government can induce a monopolist to expand his output is by imposing:
  5. The number of sellers in oligopoly are:
  6. 4.The Law of Diminishing Returns according to the modern view, applies to:
  7. Who wrote An Introduction to Positive Economics?
  8. The long run average cost curve is:
  9. In cournot model, during the process of adjustment, the number of firms:
  10. The MC curve cuts the AVC and ATC curves:
  11. Demand of a commodity is elastic when:
  12. For the given production function, technical efficiency is defined as:
  13. Total profits are maximized at the point where:
  14. The least cost combination of factors x , y and z will generally be the point at which:
  15. In 1776, a famous book An enquiry into the nature and causes of the wealth of nation was written by:
  16. The pay-off matrix shows:
  17. LMC represents change in LTC (long-run total cost) due to producing an additional unit of a good while…
  18. Economics is a:
  19. If demand is elastic and supply is inelastic then the burden of a tax on the good will be:
  20. Consumers are likely to get a variety of similar goods under:
  21. The engineering production function and engineering costs curves are concerned with the:
  22. In the case of complements, the cross demand curve slopes:
  23. Cross-elasticity of demand or cross-price elasticity between two perfect complements will be:
  24. Which of the following would be least likely to cause a consumer to eat less beef?
  25. The Law of Equi-Marginal Utility refers to:
  26. The external economies of scale experienced by a firm include the:
  27. A country is advised to devalue (reduce external value of) its currency only when its exports face:
  28. For the given production function, technical inefficiency is defined as:
  29. The difference between accounting profits and economic profits is:
  30. According to translog production function, elasticity of substitution is: