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

A. Increase at decreasing rate

B. Increase at constant rate

C. Decrease at increasing rate

D. Increase at increasing rate

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  1. In monopolistic competition, the firm take advantage due to customers:
  2. Technological Progress (Invention) can be defined as:
  3. A typical demand curve cannot be:
  4. Which of the following theories of trade cycle was presented by William Jevons?
  5. The MRTS along an iso-quant goes on to:
  6. The difference between the average total cost and average variable cost as output increases will:
  7. Identify the work of T.W.Schultz:
  8. Average cost means:
  9. The model which gives us information about price and output changes in different periods is:
  10. Identify the economist who first developed the theory of income determination in its modern form:
  11. From analysis, it is clear that both Marshal and Walras market models are:
  12. The slope of marshallian demand curve is:
  13. In the range of excess capacity, the average costs are:
  14. The addition or increment to the total cost involvesd in expanding or contracting output by one unit…
  15. The demand curve of giffen goods will be:
  16. Change in quantity demanded refers to:
  17. The reaction curve of a firm is attained by joining the:
  18. The total utility (TU) curve is:
  19. A market demand schedule is obtained by adding individual demand schedules:
  20. Marginal cost curve cuts the average cost curve:
  21. Under monopolistic competition, the products sold by the firms are:
  22. A firm in a position of equilibrium is supposed to be maximizing:
  23. When there is decrease in demand the demand curve:
  24. Price elasticity of demand is best defines as:
  25. If the commodities X and Y are perfect complements then:
  26. In sweezy model (kinked demand curve model), the role of MC curve:
  27. Which of the following is assumed to be constant when drawing a demand curve?
  28. Indifference curve represents:
  29. Extension (expansion) and contraction of demand are result of:
  30. The average fixed cost (AFC) curve is asymptote to: