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Each SAC represents a particular level of:

A. Input

B. Output

C. Both of them

D. None of them

Correct Answer : B.


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  1. Under price discrimination, the buyers must:
  2. In the long-run competitive equilibrium, the theory predicts that:
  3. Normal profits are considered as:
  4. Equilibrium of a discriminating monopolist requires the fulfillment of which one of the following conditions?
  5. Change in quantity demanded refers to:
  6. A firm under perfect competition has:
  7. The concept of period refers to:
  8. The average fixed cost (AFC) curve is asymptote to:
  9. When elasticity of demand is greater than one (e >1), then following the formula MR=P[1-1/e], the MR…
  10. The average product is given as:
  11. In economics, Externality means:
  12. In Edgeworth model, price remains:
  13. Under competitive conditions, the industry will be in equilibrium:
  14. Economics is a:
  15. In Edgeworth model, prices oscillate between:
  16. The isoquant which are generated by CES (constant elasticity of substitution) production function are…
  17. If X and Y are close substitutes, a rise in the price of X will lead to:
  18. According to law of Equi-Marginal Utility when price of commodity falls then we bought:
  19. In the long-run competitive equilibrium:
  20. Nash equilibrium says:
  21. If cross-elasticity of one commodity for another turns out to be zero, it means they are:
  22. If production increases under increasing returns to scale, the cost will:
  23. Marginal revenue from a given output:
  24. If the commodity is normal then fall in price will result in:
  25. Excess capacity is concerned with the:
  26. When total revenue (TR) falls in monopoly then elasticity of demand is:
  27. Ordinal approach includes arranging:
  28. Rotten eggs are:
  29. The production possibility curve (PPC) is concerned with:
  30. Moving along an indifference curve leaves the consumer: