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In the perfect competition, there is a process of:

A. Restricted entry and exit of the firms

B. Semi free exit but absolute free entry

C. Free entry but restricted exit of the firms

D. Free entry and free exit of the firms

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  1. An effective price ceiling usually results in:
  2. Repetition of a game (Repeated Game):
  3. The expansion point is attained by joining:
  4. Total costs are:
  5. Pure monopoly exists:
  6. Elasticity of Substitution (s) is defined as:
  7. If the consumers expect that the price of computers will decrease in next year then:
  8. On the total utility curve the economically relevant range is the portion over which:
  9. Using total revenue and total cost, a profit maximizing firm will be equilibrium at a point:
  10. Under competitive conditions, the industry will be in equilibrium:
  11. Because of selling costs, the demand curve of a firm shifts:
  12. The marshallian indirect utility function in the form of equation is:
  13. Which of the following formulae explain the term average revenue?
  14. According to Diamond Water Paradox diamonds are more expensive than water because:
  15. Economics define technology as:
  16. Ceteris paribus clause in the law of demand means:
  17. In constant sum game (zero sum game), if there are two parties then:
  18. If the commodity is normal then price effect is:
  19. The number of sellers in oligopoly are:
  20. The horizontal demand curve for a commodity shows that its demand is:
  21. The cross-price elasticity of the demand for orange juice with respect to the price of apple juice is…
  22. The fixed cost of a firm:
  23. Variable costs refer to:
  24. If demand increased and supply decreased then:
  25. The act of producing the output from more than one plant is concerned with:
  26. At a point where a straight line demand curve meets the price axis (Y-axis), the elasticity of demand…
  27. Utility is:
  28. The alternative of profit maximization theory is:
  29. When elasticity of demand is greater than one (e >1), then following the formula MR=P[1-1/e], the MR…
  30. In long run, a firm can change: