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According to Robbins, economics is a:

A. Science of wealth

B. Science of national welfare

C. Science of optimality

D. Science of scarcity

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

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  1. Price-taker firms:
  2. LMC represents change in LTC (long-run total cost) due to producing an additional unit of a good while…
  3. In monopolistic competition, the cost curves of all firms are:
  4. An increase in the price of the good measured on the horizontal axis causes:
  5. An indifference curve slopes down towards right since more of one commodity and less of another result…
  6. Loanable funds theory of Interest was developed by:
  7. To attain maximum profits during short-run a firm should produce the output that will:
  8. If demand is elastic and supply is inelastic then the burden of a tax on the good will be:
  9. When total revenue is maximum in monopoly, elasticity of demand is:
  10. Price elasticity of demand is best defines as:
  11. We can find total utility by:
  12. In monopolistic competition, the customers are attached with one product because of:
  13. Which of the following is not a feature of isoproduct curves?
  14. All of the following curves are U-Shaped except:
  15. In the short-run, in which one of the following situations would a competitive seller close down (shut-down)?
  16. A country is advised to devalue (reduce external value of) its currency only when its exports face:
  17. In case of short-run, the supply curve of an industry is the horizontal summation of:
  18. The marginal revenue of a perfectly competitive firm is:
  19. Price mechanism has also given the name:
  20. A market demand curve presumes that:
  21. All of the following are capital resources except:
  22. Labor theory was firstly rejected by:
  23. Under perfect competition, at equilibrium, marginal cost is:
  24. The production function of homogeneous of degree one (n=1) is also called:
  25. Isocost line shows the combinations of labor and capital where a firms budget is:
  26. If the commodity is inferior then:
  27. In case of economic bads, an IC can be :
  28. The sufficient condition of firms equilibrium requires:
  29. If we measure the elasticity of demand with the help of the average and marginal revenue, the formula…
  30. If the marginal utility is divided by the price of the commodity then it is called: