Home

In perfectly competitive markets, the profit maximization rule can be represented by:

A. MR=ATC

B. P=ATC

C. P=MC

D. P=AC

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

Physiological and Anatomy of Plants MCQ Operating System MCQ Visual Basic MCQ Rearrangement Set 5 MCQ Phylum - Porifera MCQ Indian Polity & Economy MCQ Stocks and Shares MCQ Morphology of flowering plants MCQ Phylum - Aves (Birds) MCQ Synonyms MCQ Theory of Machines MCQ Electronics MCQ

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

Submit
Load More..
You can do it
  1. If the commodity is normal then price effect is:
  2. All of the following curves are U-Shaped except:
  3. In the immediate run:
  4. Average cost means:
  5. Perfect competition implies:
  6. In perfectly competitive markets, the profit maximization rule can be represented by:
  7. Price leadership is associated with:
  8. If the supply and demand increases equally, the price will:
  9. Price discrimination occurs when:
  10. The cost of one thing in terms of the alternative given up is known as:
  11. When SAC curve rises, SMC curve lies its:
  12. In the theory of firm, Chamberline presented the idea of:
  13. The cobweb model will convergent when the slope of:
  14. Which of the following is not a characteristic of a perfectly competitive market?
  15. The water diamond paradox was firstly resolved with the help of:
  16. An indifferent curve shows:
  17. The maximization of output subject to cost requires equilibrium at the:
  18. The word ECONOMICS is derived from the Greek terms meanings:
  19. If a firm is producing output at a point where diminishing returns have set in, this means that:
  20. Each short run average cost curve:
  21. The total utility (TU) curve is:
  22. The average cost curve is a geometrical illustration of:
  23. If the commodity is inferior then:
  24. In dominant price leadership model, the small firms are like:
  25. An indifference curve shows the bundles of two goods among which a consumer remains:
  26. If the marginal utility of apples to a consumer exceeds that of bananas then the consumer:
  27. Excess capacity is concerned with the:
  28. The slutsky demand curve includes:
  29. The long-run average cost is based on the fact that:
  30. Labor Saving Technological Progress can be defined as: