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In monopoly and perfect competition, TC curves are:

A. Different

B. Similar

C. Opposite

D. None of the above

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  1. With the expansion of output, the short run average cost curve, beyond a point, starts rising because:
  2. The effects according to which people use those goods which are concerned with distinctive standard…
  3. Utility is:
  4. Change in quantity demanded (expansion and contraction of demand) is:
  5. The cost of firms in cournot model are:
  6. When the law of demand operates the demand curve:
  7. In the theory of firm, Chamberline presented the idea of:
  8. With an increase in income, consumer is expected to buy more of:
  9. In the long run average costs curve, a firm can change:
  10. In Revealed Preference Theory, a consumer reveals preference for bundle of:
  11. When sales tax is imposed on monopolist, its:
  12. Under the law of variable proportions, the average and the marginal product of the variable factor would…
  13. In microeconomics, we study:
  14. At the point where the straight line from the origin is tangent to the TC curve, AC is:
  15. The concept of industry in monopolistic competition has been replaced by:
  16. Law of Returns to Scale shows:
  17. An inferior good/ commodity is inferior for:
  18. In dominant strategies I am doing the best, I can no matter:
  19. An indifferent curve shows:
  20. Price-taker firms:
  21. In non-collusive oligopoly firms enter into:
  22. If a straight line supply curve makes an intercept on the Y-axis, elasticity of supply is:
  23. The equilibrium conditions, MC = MR = AR = AC, will happen:
  24. Price discrimination is undertaken with the aim of:
  25. Law of Substitution in production was presented by:
  26. The Lambda or Langrange Multiplier is a:
  27. The behavior of MC curve is determined by the behavior of the:
  28. Other things remaining the same, when a consumers income increases his equilibrium point moves to:
  29. If the price of Pepsi Cola goes down, you would predict:
  30. If two goods have same marginal utility for a consumer then: