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If production increases under constant returns to scale, the cost will:

A. Increase at a constant rate

B. Decrease at a constant rate

C. Increase at a variable rate

D. Decrease at a variable rate

Correct Answer : A.


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  2. The consumer is in equilibrium at the where:
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  9. Theory of revealed preference is based on:
  10. The Modern and Neo-Keynsian Theory of Interestwas presented by:
  11. When there is decrease in demand the demand curve:
  12. An increase in the supply of a commodity is caused by:
  13. Which is the first-order condition for the profit of a firm to be maximum?
  14. The critics of Sweezy model say that kink generates:
  15. In case of short-run, the supply curve of an industry is the horizontal summation of:
  16. An iso-product (an isoquant) curve slopes:
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  18. A monopolist has control over the price he charges for his product. He will be able to maximize his…
  19. If as a result of an increase in prices, total outlay (expenditures) on a commodity decreases, its price-elasticity…
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  22. Monopoly means:
  23. At final equilibrium in cournot model, each firm sells:
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  25. A monopolist will fix the equilibrium output of his product where the elasticity of his average revenue…
  26. The Latin term citeris paribus means:
  27. We can write ordinal utility function as:
  28. The difference between average cost and average revenue is:
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  30. The long run average cost curve is the envelope of: