Similar choices

Unlimited choices

Differential choices

Few choices

**At the point where the straight line from the origin is tangent to the TC curve, AC is:****Production is a function of:****Demand is elastic when the coefficient of elasticity is:****The law of Diminishing Marginal Utility implies that the marginal utility of a good decreases as:****Scarcity means:****Cross-elasticity of demand or cross-price elasticity between two perfect complements will be:****By saying that monopolist create a contrived scarcity, economist mean that monopolist:****The pay-off matrix shows:****7.The costs which the firms have to face in order to change the price tags of their products and services…****Production indifference curve (isoquant) is a curve which shows:****Efficient allocation of resources is likely to be achieved under:****If the commodities X and Y are perfect complements then:****A firm is a sum of persons who convert:****Normally when price per unit of time falls:****At a point below the middle of a straight line demand curve, elasticity of demand is:****The elasticity of demand is equal to slope of demand function divided by:****In short run:****Stable cobweb model is a:****If Cobb-Douglas production function is homogeneous of degree less than one (n****In cournot model, firms face:****Labor Saving Technological Progress can be defined as:****If a straight line supply curve makes an intercept on the Y-axis, elasticity of supply is:****An exceptional demand curve is:****The MC curve cuts the AVC and ATC curves:****According to current thinking, the law of diminishing returns applies to:****Identify the economist who first developed the theory of income determination in its modern form:****The shape of the TC curve is:****A straight line, downward-sloping demand curve implies that, as price falls, the elasticity of demand:****The difference between average total cost and average fixed cost shows:****Loanable funds theory of Interest was developed by:**