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For the equilibrium of the firm and the industry in the short period in a competitive market, the condition is:

A. P = AC

B. P = MC

C. AC = MC

D. MC = TR

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  1. Cross-elasticity of demand is measured as:
  2. The costs faced by the firm against variable factors are:
  3. If the commodity is normal then the Income Effect (I.E) and the Substitution Effect (S.E):
  4. Returns to scale is a:
  5. In monopolistic competition, the firm take advantage due to customers:
  6. Using total revenue and total cost, a profit maximizing firm will be equilibrium at a point:
  7. Which of the following is assumed to be constant when a supply curve is drawn:
  8. Increasing returns is not caused by:
  9. When the consumer is in equilibrium not only his income is fully spent, but the ratio of marginal utility…
  10. In dominant price leadership model, the small firms are like:
  11. An indifferent curve shows:
  12. Price leadership is associated with:
  13. Production function shows:
  14. Which of the following is assumed to be constant when drawing a demand curve?
  15. If a commodity sold under monopoly is got free of cost, then MC will be:
  16. Market demand curve is:
  17. The largest possible loss that a firm will make in the short run is:
  18. The marshallian demand curve includes:
  19. In case of monopoly, when total revenue is maximum:
  20. By saying that monopolist create a contrived scarcity, economist mean that monopolist:
  21. If the price of coffee increases, you would predict that:
  22. 7.The costs which the firms have to face in order to change the price tags of their products and services…
  23. The effects according to which people use those goods which are concerned with distinctive standard…
  24. In monopolistic competition, the aim of the firm is to:
  25. According to Leontief technology, there:
  26. MRSxy measures:
  27. Average cost curve contains in it:
  28. In cournot model, during the process of adjustment, the number of firms:
  29. The budget-line is also known as the:
  30. In sweezy model (kinked demand curve model), the role of MC curve: