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If in the long run all factor inputs are increased three times and the resulting output is four times as before, it is a case of:

A. Decreasing returns to scale

B. Variable returns to scale

C. Constant returns to scale

D. Increasing returns to scale

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  1. The cobweb model will divergent when the slope of:
  2. Some farm land can be used to produce either corn or soybeans. If the demand for corn increases then:
  3. In monopolistic competition (also in kinked demand curve model), a firm sells the amount where:
  4. A typical demand curve cannot be:
  5. Price mechanism has also given the name:
  6. When a competitive firm is in equilibrium in the long-run, its output is such that:
  7. Dumping is international discriminating:
  8. Iso-product curve (isoquant) shows:
  9. An indifference curve slopes down towards right since more of one commodity and less of another result…
  10. When a consumer reached at the point of saturation then marginal utility (MU) is:
  11. In cournot model, at equuilibrium when MC = MR, the elasticity of demand is:
  12. The nominal income of a consumer is income in terms of:
  13. Which of the following conditions is met in the long-run equilibrium in monopolistic competition, where…
  14. The consumer is in equilibrium at the where:
  15. In monopoly and perfect competition, TC curves are:
  16. In a socialist (communist) economy the invisible hand:
  17. Theory of revealed preference is based on:
  18. Price effect occurs on the higher IC in case of:
  19. The number of sellers in oligopoly are:
  20. The firms in non-cooperative games:
  21. The difference between average total cost and average fixed cost shows:
  22. When price increases and with it the total outlay on a commodity also increases, it is a case of:
  23. When marginal costs curve cuts average costs curve, average costs are:
  24. In the case of a normal goods, the income effect:
  25. Firms average and marginal revenues are equal under:
  26. At the shut-down point in perfect competition:
  27. Total utility:
  28. A market demand schedule is obtained by adding individual demand schedules:
  29. The feasible part of the demand curve for the monopolist who is charging high price will be:
  30. The least cost combination of factors x , y and z will generally be the point at which: