In price leadership, like leader, the follower firm may:
also maximize its profits
not maximize its profits
maximize its costs
none of the above
- The ordinary demand curve is also called:
- When AC curve falls, MC curve falls:
- An inferior good/ commodity is inferior for:
- Short run cost curves are influenced by:
- Which describes a competitive market?
- The imaginary differentiation is attributed to difference in:
- Consumer surplus is the difference between
- If production increases under increasing returns to scale, the cost will:
- In real life firms:
- The short run cost curve is U shaped because of:
- Income-elasticity of demand is expressed as:
- The cournot model is a model of:
- If a straight line supply curve makes an intercept on the X-axis, the elasticity of supply is:
- Which of the following is an implicit cost of production?
- In cournot model, firms sell:
- The General Theory of Employment, Interest and Money is the major work of :
- The total revenue curve for monopolist is the shape of:
- Suppose income increases by 10% and demand for commodity increases by 5% then the income elasticity…
- Any expansion in output by a firm in the short period will always reduce the:
- The law of demand is most directly a result of:
- In non-collusive oligopoly firms enter into:
- According to critics, the assumption of costless production is:
- If two goods have same marginal utility for a consumer then:
- A firm will be in equilibrium when the lowest isocost is:
- Indifference curves are downward sloping and are drawn bowed toward the origin (convex to the origin)…
- On an indifference map higher indifference curves show:
- Each firm in cournot model can:
- The elliptical isoquant represents the:
- Which is the correct statement?
- The slope of indifference curve shows: