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Average cost curve contains in it:

A. Normal profits

B. No normal profits

C. Sometimes normal profits and sometimes no normal profits

D. Super normal profits

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

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  1. In long run competitive equilibrium:
  2. According to current thinking, the law of diminishing returns applies to:
  3. When the slope of a demand curve is zero (also known as vertical demand curve) then elasticity will…
  4. In an indifference curve diagram, when the price of a product increases, the decline in quantity demanded…
  5. If the production increases under decreasing returns to scale, the cost will:
  6. For monopolistic competitive firm:
  7. Loanable funds theory of Interest was developed by:
  8. The average product is given as:
  9. If two households have identical preferences but different incomes then:
  10. In the case of a giffen good, the income effect:
  11. Implicit costs are the costs:
  12. A demand curve which is horizontal and parallel to x-axis represents:
  13. Which describes a competitive market?
  14. In a competitive market, price is determined primarily by:
  15. Under monopolistic competition, in long-run there is:
  16. In the short-run, in which one of the following situations would a competitive seller close down (shut-down)?
  17. Engel curves shows that:
  18. According to Marshal, the Law of Diminishing Returns is applicable to:
  19. The difference between accounting profits and economic profits is:
  20. If the commodity is inferior then the Income Effect (I.E) and the Substitution Effect (S.E):
  21. At final equilibrium in cournot model, each firm sells:
  22. The main contribution of David Ricardo is in the field of:
  23. Excess capacity is not found under:
  24. As the price of diamond is higher, so it has:
  25. A firms profit is equal to:
  26. Economies of large-scale production:
  27. In the long-run competitive equilibrium, the theory predicts that:
  28. When marginal costs curve cuts average costs curve, average costs are:
  29. When sales tax is imposed on monopolist, its:
  30. Cross-demand curve shows: