There is tendency for firms to enter but not leave the industry
Firms have no tendency either to enter or to leave the industry
Some firms may enter while the others may leave the market even after the equilibrium of the industry
Entry or exit of the firms cannot be predicted
C. Some firms may enter while the others may leave the market even after the equilibrium of the industry
The elastic part of a demand curve
The inelastic part of a demand curve
The constant elastic part of the demand curve
None of the above
AP curves
MP curves
Both of them
None of them
Labor theory of value
Individual theory of value
Producer theory of value
Consumer theory of value
Free goods
Economic goods
Luxury goods
None of the above
A strategy taken by a dominant firm
A strategy taken by a firm in order to dominate its rivals
A strategy that is optimal for a player no matter an opponent does
A strategy that leaves every player in a game better off
Percentage change in demand Original demand
Proportionate change in demand Proportionate change in price
Change in demand Change in price
None of the above
Left to right
Right to left
Both of them
None of them
Guides most resource allocation decisions
Operates effectively only in the labor market
Operates effectively only in the market for capital
Is prevented from operating effectively
output
input
price
advertisement
Attract more customers
Prevent its customers from going to others
Establish superiority of its product on the others
All of the above
Marginal cost curves
Average cost curves
Total cost curves
None of the above
Are downward sloping to the right
Show different input combination producing the same output
Intersect each other
Are convex to the origin
Consumption expenditure
Theory of population
Division of labor
Theory of demand
Different
Same
Zero
None of the above
Timeless phenomenon
Short run phenomenon
Long run phenomenon
None of the above
Free good
Economic good
Both of the above
None of the above
A stock concept
A flow concept
Both stock and flow
None of the above
Repel each other
Represent each other
Intersect each other
None of the above
Both parties make better-off
Both parties make worse-off
Both parties become Neutral
One party can become better off only if another is made worse off
Short-Run
Long-Run
Medium-Run
None of the above
Price winner
Price searcher
Price taker
Price leaver
Negative
Positive
Zero
Infinity
Imperfect substitutes
Perfect substitutes
Complements
None of the above
Quantity exchanged might rise or fall and price would rise
Quantity exchanged would rise and price would fall
Quantity exchanged would rise and price might rise or fall
Both quantities exchanged and price would rise
The curve representing the cost per unit of output
The demand curve of consumers for the firms product
Total receipts realized by the firm
All of the above
An externality is a cost or benefit which is not transmitted through prices
An externality is a cost or benefit which is transmitted through prices
An externality is a production received through external resources
None of the above
Classical economists
Keynes
Neo-classical economists
Karl Marx
Fixed cost per unit
Variable cost per unit
Total cost per unit
Marginal cost
Monopoly
Monopolistic competition
Perfect competition
Any market form
Negative
Positive
Infinite
Negative infinite