Has to touch the long run cost curve
Has to cross the long run cost curve
Has to lie above all points on the long run cost curve
Coincides with the long run cost curve at some point
D. Coincides with the long run cost curve at some point
banned
allowed
partially allowed
none of the above
The firms producing with excess capacity
The firms producing at their minimum costs
Firms producing at a cost higher than the minimum
Some firms producing under decreasing costs and others under increasing costs
Every consumer
Most consumers
All consumers
Some consumers and not for others
Income effect(I.E)
Substitution effect(S.E)
Taste effect
Both a and b
Exact science
Inexact science
Pure science
All of the above
Positive
Negative
Zero
None of the above
All of the consumer surplus
All of the producer surplus
Some part of the consumer surplus
None of them
In the long-run
In the short-run
For luxuries
In the immediate-run
Always
Never
When LAC is falling
Only at that level of output when LAC is at its minimum
Vertical
Horizontal
Controlled by the largest producers
Unaffected by inflation
Social costs
Opportunity costs
Explicit costs
Implicit costs
A lower indifference curve
A lower PPC curve
Remains on same indifference curve
A higher indifference curve
Freedom of entry and exit
Each seller is a price taker
Perfect information about prices
Heterogeneous products
Become equal
Decrease
Become constant
Increase
Wages of labor
Factor pricing
Theory of rent
Determination of the rate of interest
His output is maximum
He charges a high price
His average cost is minimum
His marginal revenue is equal to marginal cost
Neo-classical economist
Classical economist
Keynesian economist
Post-Keynesian economist
By a same single curve
By three different curves
By downward sloping curve
None of the above
Positive
Unitary
Negative
Infinite
Frustration
Poverty
Uncertainty
Integrity
Profit curve
Demand curve
Average cost curve
Indifference curve
Made by agency
Not made by agency
Made by people
None of the above
Change in its price causes a proportionately greater change in its quantity demanded
Change in its price does not change its quantity demanded
Change in consumers income causes change in demand
None of the above
Stagnant
Mobile
Immobile
Rare
Imperfect substitutes
Perfect substitutes
Complements
None of the above
Led the Russian Revolution
Provided the theoretical basis for socialism(communism)
Developed his theory in response to the Great Depression of the 1930s
None of the above
Fixed cost per unit
Variable cost per unit
Total cost per unit
Marginal cost
Car
Salt
Tea
House
Marginal propensity to consume
Marginal propensity to save
Liquidity preference
All of the above
Negative
Positive
Infinite
Zero