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In the long run average costs curve, a firm can change:

A. Labour

B. Capital

C. Both of them

D. None of them

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

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  1. Rent is a creation of value, not of wealth who made this observation?
  2. If production increases under constant returns to scale, the cost will:
  3. Identify the factor, which generally keeps the price elasticity of demand for a commodity low:
  4. If as a result of a decrease in price, total outlay (expenditures) on a commodity increases, its price-elasticity…
  5. The MRTS along an iso-quant goes on to:
  6. The consumer is in equilibrium at the where:
  7. Law of Variable Proportions is regarding in:
  8. An inferior good/ commodity is inferior for:
  9. Income -elasticity of demand will be zero when a given change in income brings about:
  10. If the production increases under decreasing returns to scale, the cost will:
  11. The slope of isocost line (budget line) shows:
  12. The law of Diminishing Marginal Utility implies that the marginal utility of a good decreases as:
  13. In long run competitive equilibrium:
  14. For a few products such as insulin for diabetics,:
  15. Because the price elasticity of demand for OPEC oil is approximately .08, in order to increase revenues…
  16. The ordinary demand curve is also called:
  17. The engineering production function and engineering costs curves are concerned with the:
  18. Any expansion in output by a firm in the short period will always reduce the:
  19. In cournot model firms:
  20. If a commodity sold under monopoly is got free of cost, then MC will be:
  21. If a person behaves against the laws of economics then:
  22. The cross-price elasticity of the demand for orange juice with respect to the price of apple juice is…
  23. The relationship between AC and MC curves depend upon the behavior of:
  24. The nominal income of a consumer is income in terms of:
  25. 4.The Law of Diminishing Returns according to the modern view, applies to:
  26. Substitution effect means a consumer
  27. Using total revenue and total cost, a profit maximizing firm will be equilibrium at a point:
  28. Under monopoly and imperfect competition MC is:
  29. Least cost combination of two factor inputs is achieved at a point where:
  30. According to translog production function, elasticity of substitution is: