Home

Equilibrium of a firm represents maximization of profits as well as:

A. Maximization of losses

B. Minimization of losses

C. Minimization of profits

D. None of the above

Correct Answer : B.


Download Objective type questions of Basics of Economics PDF

Visit our PDF store

Get all objective type questions of Basics of Economics MCQ

Also checkout these categories

Current Affairs August 2017 MCQ Line Graph MCQ Design of Masonry Structures MCQ Angiosperms (Inflorescence, Flower and Fruit) MCQ Building Materials MCQ Php Programming MCQ Ratio and Proportion MCQ Statutory Deductions MCQ Current Affairs June 2017 MCQ Electric Current MCQ Alligation or Mixture MCQ Synonyms MCQ

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

Submit
Load More..
You can do it
  1. Under conditions of perfect competition, price in the long-run is equal to:
  2. Cournot equilibrium is attained where two reaction curves:
  3. In monopoly and perfect competition, TC curves are:
  4. In case of monopoly, the price charged against the additional unit is:
  5. According to Marshal, the Law of Diminishing Marginal Utility:
  6. In dominant strategies I am doing the best, I can no matter:
  7. For the given production function, technical inefficiency is defined as:
  8. When the slope of a demand curve is infinite (also known as horizontal demand curve) then elasticity…
  9. The cobweb model will divergent when the slope of:
  10. The isoquant approach is based upon:
  11. The normal long-run average cost curve is influenced by the:
  12. The Lambda or Langrange Multiplier is a:
  13. In market sharing cartel model, cartel determines the shares of:
  14. Cardinal approach includes arranging:
  15. 7.The costs which the firms have to face in order to change the price tags of their products and services…
  16. The number of firms in monopolistic competition normally range between:
  17. Cross-elasticity of demand or cross-price elasticity between two substitutes will be:
  18. One way the government can induce a monopolist to expand his output is by imposing:
  19. We get constant returns to scale when:
  20. At final equilibrium in cournot model, each firm sells:
  21. The slope of indifference curve shows:
  22. Which of the following statement is wrong?
  23. A fall in demand for the product under monopolistic competition will likely result in:
  24. The greater the percentage of income spent on a commodity:
  25. If the demand curve is horizontal then its slope is:
  26. The cross-price elasticity of the demand for orange juice with respect to the price of apple juice is…
  27. According to Chamberlin, the activity of a monopolistic competitive firm:
  28. The law of variable proportions comes into being when:
  29. Ceteris paribus clause in the law of demand means:
  30. The firm producing at the minimum point of the AC curve is said to be: