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If there are many producers, each of whom has an individual production possibility curve, then the lowest marginal cost producer of good X is the producer:

A. Who must sacrifice fewer units of every other goods than any other producer

B. Who can produce more X per hour than any other producer

C. Who must sacrifice more units of every other goods than any other producer

D. None of the above

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

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  1. Total variable costs in equation form are:
  2. When total product falls:
  3. An inferior commodity is one whose quantity demand decreases when income of the consumer:
  4. The budget constraint equation of the firm is:
  5. At the point where the straight line from the origin is tangent to the TC curve, AC is:
  6. The line from the origin to a point on an isoquant shows:
  7. The kink demand curve faced by an oligopolist is based on the assumption that:
  8. When the income of consumer increases then budget line will:
  9. According to law of Equi-Marginal Utility when price of commodity falls then we bought:
  10. Economic problems arise because:
  11. In 1776, a famous book An enquiry into the nature and causes of the wealth of nation was written by:
  12. The cross-price elasticity of the demand for orange juice with respect to the price of apple juice is…
  13. Which cost increases continuously with the increase in production?
  14. If by doubling all inputs in the long run output is less than double, it is a case of:
  15. The firm is at equilibrium where:
  16. In the long-run:
  17. The marginal revenues are derivatives of:
  18. For the given production function, technical efficiency is defined as:
  19. If the price of product A decreases and in the result the demand for product B increases then we can…
  20. Which is the first-order condition for the profit of a firm to be maximum?
  21. At high prices, demand is likely to be:
  22. A firm will be in equilibrium when the lowest isocost is:
  23. Marginal cost is found with the help of changes in:
  24. Increasing returns imply:
  25. When a consumer is satisfied with his spending pattern, he is said to be in:
  26. The demand of the luxuries is:
  27. The feasible part of the demand curve for the monopolist who is charging high price will be:
  28. At low prices, demand is likely to be:
  29. Some economists refer to iso-product curves as:
  30. Monopoly means: