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If a firm produces zero output in the short period then which statement is true?

A. Its total cost will be zero

B. Its variable cost will be positive

C. Its fixed cost will be positive

D. Its average cost will be zero

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  1. The main contribution of David Ricardo is in the field of:
  2. Law of Substitution in production was presented by:
  3. According to Diamond Water Paradox diamonds are more expensive than water because:
  4. When a consumer is in equilibrium then slope of indifference curve is:
  5. A producer attains the least cost combination when the relation between Marginal Rate of Technical Substitution…
  6. MC = MR = AC = AR shows the long run equilibrium position of the:
  7. Extension (expansion) and contraction of demand are result of:
  8. Short run cost curves are influenced by:
  9. In case of perfect competition, TR curve rises at a:
  10. An individual consumers demand is not determined by:
  11. The cobweb model will convergent when the slope of:
  12. The situation in between the extremes of the govt. controlled, planned economy and the perfectly free,…
  13. In microeconomics, we study:
  14. Which of the following goods is most likely to be exchanged in a market of local rather than national…
  15. In discriminating monopoly (price discrimination), the elasticity of demand of product in two markets…
  16. Using total revenue and total cost, a profit maximizing firm will be equilibrium at a point:
  17. Efficient allocation of resources is achieved to a greater extent under:
  18. Income -elasticity of demand will be zero when a given change in income brings about:
  19. The minimization of costs subject to output requires equilibrium at the lowest:
  20. Social costs equal private costs when:
  21. The largest possible loss that a firm will make in the short run is:
  22. A good tends to have relatively inelastic demand, if:
  23. Identify the work of Irving Fisher:
  24. Under the perfect competition, the transportation cost:
  25. The products, under monopolistic competition are differentiated, yet they are:
  26. Who finalized the model of imperfect competition?
  27. An inferior commodity is one whose quantity demand decreases when income of the consumer:
  28. The alternative of profit maximization theory is:
  29. An economic theory is :
  30. If a straight line supply curve makes an intercept on the X-axis, the elasticity of supply is: