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If price exceeds AVC but in smaller than AC at the best level of output, the firm is:

A. Making a profit

B. Incurring a loss but should continue to produce in the short-run

C. Incurring a loss and should stop producing immediately

D. Making a normal profit

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

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  1. A vertical supply curve parallel to the price axis implies that the elasticity of supply is:
  2. The isoquant approach is:
  3. When sales tax is imposed on monopolist, its:
  4. Indifference curves reflect:
  5. When the law of demand operates the demand curve:
  6. In 1932, The nature and significance of economic science was written by:
  7. When elasticity of demand is less than one (e
  8. If a straight line supply curve makes an intercept on the Y-axis, elasticity of supply is:
  9. At final equilibrium in cournot model, each firm sells:
  10. Income effect operates through an increase
  11. The cournot model is a model of:
  12. Under competitive conditions, the industry will be in equilibrium:
  13. With the expansion of output, the short run average cost curve, beyond a point, starts rising because:
  14. In monopolistic competition, the cost curves of all firms are:
  15. A producer attains the least cost combination when the relation between Marginal Rate of Technical Substitution…
  16. If the price of a product falls then quantity demanded tends to increase ceteris paribus because:
  17. A monopolist is:
  18. Identify the economist who first developed the theory of income determination in its modern form:
  19. When total product increases at a decreasing rate:
  20. Who is the author of the famous work Asian Drama: An Enquiry intro the Causes of Poverty of Nations?
  21. If the demand curve is vertical then its slope is:
  22. Demand for a commodity is elastic when it has
  23. Moving along the indifference curve leaves the consumer:
  24. Who wrote A Contribution to the Theory of Trade Cycle?
  25. According to Marshal, the Law of Diminishing Returns is applicable to:
  26. A firm will be in equilibrium when the lowest isocost is:
  27. Increasing returns imply:
  28. In case of monopoly, the slope of MR is:
  29. Marginal cost is found with the help of changes in:
  30. The effects according to which people use those goods which are concerned with distinctive standard…