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In monopolistic competition (also in kinked demand curve model), a firm sells the amount where:

A. Individual demand curve (IDC) is equal to proportional demand curve (PDC)

B. Individual demand curve (IDC) is greater than proportional demand curve (PDC)

C. Individual demand curve (IDC) is less than proportional demand curve (PDC)

D. None of the above

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  1. A demand curve is not related to:
  2. Total costs in the short-term (short-run) are classified into fixed costs and variable costs. Which…
  3. Demand is elastic when the coefficient of elasticity is:
  4. The isoquant approach is based upon:
  5. Which of the following is not an explicit cost of production?
  6. When total revenue (TR) falls in monopoly then elasticity of demand is:
  7. 7.In an economy based on the price system the decision on what shall be produced is made by:
  8. The low cost price leader will charge:
  9. The firm is at equilibrium where:
  10. The largest possible loss that a firm will make in the short run is:
  11. Indifference curve approach (ordinal approach) is superior to utility approach (cardinal approach) because:
  12. According to Cobb-Douglas, in production function the marginal product of labor is:
  13. If two goods are complements then indifference curve (IC) will be:
  14. At the point where a straight line demand curve meets the quantity axis (x-axis), elasticity of demand…
  15. In Edgeworth model, prices oscillate between:
  16. Marginal cost is always:
  17. If a straight line supply curve makes an intercept on the X-axis, the elasticity of supply is:
  18. The point where the supply and demand curves intersect on a graph determines:
  19. Which of the following is not a property of indifference curve?
  20. The general form of Cobb-Douglas production function is:
  21. If the commodity is normal then fall in price will result in:
  22. Income effect operates through an increase
  23. Even in the long-run equilibrium, the pure monopolist can make abnormal profits because of:
  24. When total product falls:
  25. Identify the economist who first developed the theory of income determination in its modern form:
  26. Who is the author of Problems of Capital Formation in Underdeveloped Countries?
  27. The utility function u = f(x) is based upon :
  28. At low prices, demand is likely to be:
  29. In modern theory, LAC = LMC after the attainment of:
  30. The word ECONOMICS is derived from the Greek terms meanings: