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In case of straight-line isoquant, the factors are not substituted because they are each others:

A. Imperfect substitutes

B. Perfect substitutes

C. Complements

D. None of the above

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

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  1. MC = MR = AC = AR shows the long run equilibrium position of the:
  2. The difference between accounting profits and economic profits is:
  3. The real income of a consumer is income in terms of:
  4. If X and Y are close substitutes, a rise in the price of X will lead to:
  5. In case of monopoly, the slope of MR is:
  6. A mixed economy is characterized by the coexistence of:
  7. If the prices of goods rise then:
  8. The costs faced by the firm against variable factors are:
  9. On all points of budget (price) line:
  10. The combination of labor and capital where the cost of a given output is minimized is known as:
  11. In Recardian theory of value, the stress has been made on:
  12. If demand increased and supply decreased then:
  13. Consumer surplus is the difference between
  14. In sweezy model (kinked demand curve model), the role of MC curve:
  15. Discriminating monopoly implies that the monopolist charges different prices for his commodity:
  16. The main objective of the firm is to:
  17. At low prices, demand is likely to be:
  18. Which of the following formula determine the income elasticity of demand?:
  19. The economic problem of determining the combination of inputs yielding lowest cost for producing a given…
  20. The isoquant approach is based upon:
  21. An increase in the supply of a commodity is caused by:
  22. We can find total utility by:
  23. The number of sellers in oligopoly is:
  24. In which case the elasticity shown by the different points of a curve is the same?
  25. Law of Substitution in production was presented by:
  26. In non-constant sum game (non-zero sum game), if there are two parties then:
  27. When the demand curve is rectangular hyperbola, it represents:
  28. Marginal cost is always:
  29. A firms profit is equal to:
  30. When the slope of a demand curve is zero (also known as vertical demand curve) then elasticity will…