Home

In modern theory, LAC = LMC after the attainment of:

A. Maximum optimal scale

B. Average optimal scale

C. Minimum optimal scale

D. None of the above

Correct Answer : C.


Download Objective type questions of Basics of Economics PDF

Visit our PDF store

Get all objective type questions of Basics of Economics MCQ

Also checkout these categories

Electricity Fundamentals MCQ Electrostatics MCQ C# Programming MCQ Letter and Symbol Series MCQ Kinetic Theory of Gases MCQ Mycoplasma and Bacteria MCQ Fungi and Lichens MCQ Synonyms MCQ Aldehydes and Ketones MCQ Periodic Classification of Elements MCQ Animal Kingdom MCQ Idioms & Phrases MCQ

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

Submit
Load More..
You can do it
  1. Implicit costs are the costs:
  2. On a straight line demand curve, elasticity of demand at the midpoint is:
  3. To calculate the elasticity of demand, which of the following formula is used?:
  4. Theory of revealed preference is based on:
  5. The real income of a consumer is income in terms of:
  6. The falling part of total Utility (TU) curve shows:
  7. In monopolistic competition, the cost curves of all firms are:
  8. When the income of consumer increases then budget line will:
  9. An inferior good/ commodity is inferior for:
  10. The slope of an iso-quant represents:
  11. In Nash equilibrium, a player:
  12. Other things remaining the same, when a consumers income increases his equilibrium point moves to:
  13. In the case of a normal goods, the income effect:
  14. In cournot model firms:
  15. Which of the following curves is a rectangular hyperbola?
  16. The kinked demand curve comes into being where:
  17. When sales tax is imposed on monopolist, its:
  18. In case of monopoly:
  19. The isoquant approach is:
  20. In context of oligopoly, the kinky demand curve (kinked demand curve) hypothesis is designed to explain:
  21. If the commodity is inferior then the Income Effect (I.E) and the Substitution Effect (S.E):
  22. Marginal utility is only meant for:
  23. From analysis, it is clear that both Marshal and Walras market models are:
  24. Which one of the following has been the most influential work of F.H.Knight?
  25. There is no difference between fixed and variable factors in the:
  26. In a perfectly competitive market, suppliers must know:
  27. Who is the author of Trade Cycle ?
  28. Marginal revenue from a given output:
  29. The main contribution of Prof. R.G.D.Allen is in the field of:
  30. At high prices, demand is likely to be: