If under perfect competition, in the short period, price does not cover the average cost completely, the firm will even then stay in the market as long as:
The average fixed cost is covered
The average variable cost is covered
Some profit is earned
The entrepreneurs enjoy producing
- Returns to scale is a:
- The optimal strategy for a player is termed as:
- Marshallian demand function is also known as:
- In sweezy model (kinked demand curve model), the overall increase in costs of production:
- Which is the correct statement?
- The Latin term citeris paribus means:
- Which of the following is not a characteristic of a perfectly competitive market?
- The budget constraint can be written as:
- In short-run, in monopolistic competition, a firm earns:
- The difference between accounting profits and economic profits is:
- Which of the following is the work of A.C.Pigou?
- The demand curve slopes downwards due to:
- Rotten eggs are:
- When a competitive firm is in equilibrium in the long-run, its output is such that:
- If the demand curve is inelastic then:
- In case of monopoly, when total revenue is maximum:
- Liquidity of Preference Theory was introduced by:
- To get more revenue, a Finance Minister impose tax on that commodity which has:
- Which is not a central problem of an economy?
- The production process is:
- Supply curves are most elastic:
- In Revealed Preference Theory, Samuelson proves P.E = S.E + I.E :
- Who first formulated the Marginal Productivity Theory of Distribution?
- Price discrimination is possible:
- MRSxy measures:
- The slope of an iso-quant represents:
- Each firm in cournot model assumes that its competitor will:
- Discriminating monopoly implies that the monopolist charges different prices for his commodity:
- A straight line, downward-sloping demand curve implies that, as price falls, the elasticity of demand:
- In non-constant sum game (non-zero sum game), if there are two parties then: