Increasing return to scales can be explained in terms of:

A. Optimal factor proportions

B. Fixed scale of plant

C. External and internal economies

D. Labor productivity

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  1. An inferior good/ commodity is inferior for:
  2. The utility function u = f(x) is based upon :
  3. The situation in between the extremes of the govt. controlled, planned economy and the perfectly free,…
  4. Elasticity of Substitution (s) is defined as:
  5. Cournot equilibrium is attained where two reaction curves:
  6. A firms profit is equal to:
  7. If a ten percent increase in price causes a ten percent reduction in quantity demanded, elasticity of…
  8. Which of the following does not have a uniform elasticity of demand at all points?
  9. When the slope of a demand curve is infinite (also known as horizontal demand curve) then elasticity…
  10. The ordinal approach was presented by:
  11. The point on which the average cost is minimum in a firm, short run average cost curve will also be…
  12. The firm is at equilibrium where:
  13. Equilibrium of a firm represents maximization of profits as well as:
  14. Cross-elasticity of demand or cross-price elasticity between two perfect substitutes will be:
  15. In discriminating monopoly (price discrimination), the cost of production in two markets are:
  16. Production indifference curve (isoquant) is a curve which shows:
  17. Total variable costs in equation form are:
  18. For a few products such as insulin for diabetics,:
  19. In the long run:
  20. As the price of diamond is higher, so it has:
  21. Which cost increases continuously with the increase in production?
  22. Which of the following has more elastic demand curve?
  23. In Edgeworth model, price remains:
  24. If under perfect competition, in the short period, price does not cover the average cost completely,…
  25. Law of variable proportions is based on the assumption of:
  26. If the marginal utility of apples to a consumer exceeds that of bananas then the consumer:
  27. In monopoly, new firms:
  28. A firm in a position of equilibrium is supposed to be maximizing:
  29. Consumers Surplus can also be defined as:
  30. In Prisoners Dillemma, the players are: