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By saying that monopolist create a contrived scarcity, economist mean that monopolist:

A. Restrict output to increase price

B. Produce where MC > P

C. Create a gap b/w quantity demanded and supplied

D. None of the above

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

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  1. If two goods are perfect substitutes then IC will be:
  2. The marginal revenues are derivatives of:
  3. In terms of price, the indirect utility function may be:
  4. In case of economic bads, an IC can be :
  5. Income -elasticity of demand will be zero when a given change in income brings about:
  6. From the resource allocation view point, perfect competition is preferable because:
  7. In modern theory, LAC = LMC after the attainment of:
  8. Each firm in cournot model can:
  9. If Cobb-Douglas production function is homogeneous of degree greater than one (n>1), then it shows:
  10. The long-run AC curve is constructed from:
  11. According to the principle of substitution?
  12. According to Smith, by value we mean the value with respect to use, and the price we mean the value…
  13. The general form of Cobb-Douglas production function is:
  14. If the commodity is inferior then the increase in income of the consumer results in:
  15. When a competitive firm is in equilibrium in the long-run, its output is such that:
  16. Which of the following is not an explicit cost of production?
  17. From analysis, it is clear that both Marshal and Walras market models are:
  18. If in the long run, output increases in the same proportion as increase in all the input in the given…
  19. Excess capacity is concerned with the:
  20. There is no difference between fixed and variable factors in the:
  21. If a consumer buys a product that costs Rs.3 and provides an additional 18 units of satisfaction, then…
  22. Cross-elasticity of demand or cross-price elasticity between two independent goods will be:
  23. In 1776, a famous book An enquiry into the nature and causes of the wealth of nation was written by:
  24. Microeconomics deals with the:
  25. The modern cost curves are based upon the idea of:
  26. Who first formulated the Marginal Productivity Theory of Distribution?
  27. Economics is a:
  28. If the price of product increases and in the result the demand for product B also increases then:
  29. In perfect competition, the slope of the total revenue curve of a firm is equal to the:
  30. Profits of a firm will be calculated taking into account the units produced and the difference between: