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All of the following curves are U-Shaped except:

A. The AVC curve

B. The AFC curve

C. The AC curve

D. The MC curve

Correct Answer : B.


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  1. Which of the following statement is wrong?
  2. General Equilibrium deals with the equilibrium of the:
  3. Excess capacity is not found under:
  4. If price exceeds AVC but in smaller than AC at the best level of output, the firm is:
  5. If the increase in demand is more than the increase in supply, the price will:
  6. In Nash Equilibrium:
  7. The long-run AC curve is constructed from:
  8. Variable costs refer to:
  9. Labor Saving Technological Progress can be defined as:
  10. Price-taker firms:
  11. The short run cost curve is U shaped because of:
  12. When total product increases at a decreasing rate:
  13. Other things remaining the same, when a consumers income increases his equilibrium point moves to:
  14. Production indifference curve (isoquant) is a curve which shows:
  15. When marginal costs curve cuts average costs curve, average costs are:
  16. In monopoly and perfect competition, TC curves are:
  17. The falling part of total Utility (TU) curve shows:
  18. Which of the following is not a characteristic of a perfectly competitive market?
  19. Marginal revenue from a given output:
  20. The consumer is in equilibrium at the where:
  21. A demand curve is not related to:
  22. The study of economic theory for the sake of certain objective is called:
  23. Cross-demand curve shows:
  24. In case of monopoly, TR curve rises at a:
  25. According to M.Kalecki, the true measure of the degree of monopoly power is the:
  26. The feasible part of the demand curve for the monopolist who is charging high price will be:
  27. Consumers Surplus can also be defined as:
  28. Necessary condition for consumer equilibrium is:
  29. By saying that monopolist create a contrived scarcity, economist mean that monopolist:
  30. Perfect competition implies: