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From the resource allocation view point, perfect competition is preferable because:

A. The firms operate at excess capacity levels

B. There is a whole variety of output produced

C. There is no restriction on entry and exit of firms

D. There is no idle capacity

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

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  1. Price elasticity of demand can be measured in the following way:
  2. In cournot model, each firm expects a reaction from his rival but the expected reaction is not:
  3. When total product increases at a decreasing rate:
  4. Returns to scale is a:
  5. Increase in demand occurs when:
  6. If in the long run all factor inputs are increased three times and the resulting output is four times…
  7. If at the unchanged price, the demand for a commodity goes up, or the quantity demanded remains the…
  8. The imaginary differentiation is attributed to difference in:
  9. In case of budget line, we get pairs of two goods where consumers income is:
  10. Demand is elastic when the coefficient of elasticity is:
  11. Rotten eggs are:
  12. If, at the prevailing price, more of a good is desired than is available for sale:
  13. The engineering production function and engineering costs curves are concerned with the:
  14. Which is the first-order condition for the profit of a firm to be maximum?
  15. Who finalized the model of monopolistic competition?
  16. The average cost curve is a geometrical illustration of:
  17. Which of the following theories of trade cycle was presented by William Jevons?
  18. Income -elasticity of demand will be zero when a given change in income brings about:
  19. If Marginal Utility (MU) is zero, then total utility is:
  20. Kinked Demand Curve is consistent with which one of the following market situations?
  21. Price discrimination is undertaken with the aim of:
  22. The average product is given as:
  23. Engel curves shows that:
  24. Which is not a central problem of an economy?
  25. In 1776, a famous book An enquiry into the nature and causes of the wealth of nation was written by:
  26. Firms average and marginal revenues are equal under:
  27. The maximization of output subject to cost requires equilibrium at the:
  28. In Nash equilibrium, a player:
  29. In repeated game, the Prisoners Dillemma can have a:
  30. The number of sellers in oligopoly are: