In case of monopoly:




D. AR=0

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  1. Cross-elasticity of demand or cross-price elasticity between two perfect complements will be:
  2. By reducing the prices of its products below those of its competitors, a perfectly competitive seller:
  3. Diseconomies of management lead to:
  4. We get constant returns to scale when:
  5. Price elasticity of demand can be measured in the following way:
  6. Ceteris paribus clause in the law of demand means:
  7. Average cost means:
  8. Law of Substitution in production was presented by:
  9. Repetition of a game (Repeated Game):
  10. In case the two commodities are complements, cross elasticity will be:
  11. Which of the following is not an explicit cost of production?
  12. In cournot model, at equuilibrium when MC = MR, the elasticity of demand is:
  13. The main contribution of Adam Smith is in the field of:
  14. The equilibrium conditions, MC = MR = AR = AC, will happen:
  15. The right of individuals to control productive resources is known as:
  16. If the commodities X and Y are perfect complements then:
  17. The production function can convey to a firm:
  18. The proportionality rule in production requires that the ratios of MP and factor prices are:
  19. The sufficient condition of firms equilibrium requires:
  20. In a competitive market, price is determined primarily by:
  21. If Marginal Utility (MU) is zero, then total utility is:
  22. The price consumption curve (PCC) for commodity X is the locus of points of consumer equilibrium resulting…
  23. A market demand schedule is obtained by adding individual demand schedules:
  24. Pure monopoly exists:
  25. Because of selling costs, the demand curve of a firm shifts:
  26. Consumer surplus is the difference between
  27. In the case of a normal goods, the income effect:
  28. The average product is given as:
  29. In non-constant sum game (non-zero sum game), if there are two parties then:
  30. The short-run supply curve of the perfectly competitive firm is given by: