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An exceptional demand curve is:

A. Downward sloping

B. Upward sloping

C. Horizontal straight line

D. Vertical straight line

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  1. In the long-run:
  2. Technological Progress (Invention) can be defined as:
  3. Variable cost includes the cost of:
  4. The relationship between AC and MC curves depend upon the behavior of:
  5. The income effect means that consumer purchase more when:
  6. When at a given price, the quantity supplied of a commodity is more than the quantity demanded, there…
  7. The long run average cost curve is the envelope of:
  8. For the equilibrium of the firm and the industry in the short period in a competitive market, the condition…
  9. Price elasticity of demand is best defines as:
  10. In Revealed Preference Theory, a consumer reveals preference for bundle of:
  11. Extension (expansion) and contraction of demand are result of:
  12. The budget constraint equation of the firm is:
  13. Demand for a commodity is elastic when it has
  14. Indifference curves reflect:
  15. In respect of which of the following category of goods is consumers surplus highest?
  16. Who developed the concept of Representative Firm?
  17. The law of demand is most directly a result of:
  18. Given a U shaped average cost curve, the relationship between average cost and marginal cost is such…
  19. If the price of product increases and in the result the demand for product B also increases then:
  20. A mixed economy is characterized by the coexistence of:
  21. The Lambda or Langrange Multiplier is a:
  22. The difference between the average total cost and average variable cost as output increases will:
  23. A loss bearing firm will continue to produce in the short run so long as the price at least covers:
  24. The minimization of costs subject to output requires equilibrium at the lowest:
  25. An effective price ceiling usually results in:
  26. If the commodity is inferior then:
  27. The ordinary demand curve is also called:
  28. Profits of a firm will be calculated taking into account the units produced and the difference between:
  29. When sales tax is imposed on monopolist, its:
  30. Economics is a: