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Increasing returns imply:

A. Constant average cost

B. Diminishing cost per unit of output

C. Optimum use of capital and factor

D. External economies

Correct Answer : B.


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  1. If the commodity is inferior then:
  2. A monopolist is:
  3. Diseconomies of management lead to:
  4. The goods sold by firms under monopolistic competition are technological as well as:
  5. Equilibrium of a discriminating monopolist requires the fulfillment of which one of the following conditions?
  6. Total utility and price are:
  7. If the commodity is inferior then Income Effect (I.E) is:
  8. With the expansion of output, the short run average cost curve, beyond a point, starts rising because:
  9. The advantage of using indifference curves rather than marginal utilities is:
  10. The Modern and Neo-Keynsian Theory of Interestwas presented by:
  11. The competitive equilibrium leads to:
  12. A firm enjoys maximum control over the price of its product under:
  13. A mixed economy is characterized by the coexistence of:
  14. A high value of cross-elasticity indicates that the two commodities are:
  15. Quantity demanded or supplied is measured in:
  16. Kinked Demand Curve is consistent with which one of the following market situations?
  17. In short run, a firm would remain in business as long as which one of the following of cost is covered?
  18. The law of variable proportions comes into being when:
  19. Economics is a:
  20. A monopolist:
  21. The maximization of output subject to cost requires equilibrium at the:
  22. Identify the work of T.W.Schultz:
  23. The total utility (TU) curve is:
  24. Which of the following is not a characteristic of a perfectly competitive market?
  25. Price discrimination is undertaken with the aim of:
  26. The budget constraint equation of the firm is:
  27. J.R.Hicks was:
  28. We get constant returns to scale when:
  29. If production increases under constant returns to scale, the cost will:
  30. In case of income effect, the level of consumers satisfaction rises when: