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Marginal cost is the cost:

A. Of the last unit of production

B. Of marginal unit

C. Of marginal efficient units

D. Of the average units of production

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

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  1. A firm enjoys maximum control over the price of its product under:
  2. In a socialist (communist) economy the invisible hand:
  3. One way the government can induce a monopolist to expand his output is by imposing:
  4. In short run, a firm would remain in business as long as which one of the following of cost is covered?
  5. If a straight line supply curve passes through the point of origin O, the elasticity of supply is:
  6. Kinked Demand Curve is consistent with which one of the following market situations?
  7. When at a given price, the quantity demanded of a commodity is more than the quantity supplied, there…
  8. Perfect competition implies:
  9. According to Smith, by value we mean the value with respect to use, and the price we mean the value…
  10. In the case of an inferior good, the income effect:
  11. In an indifference curve diagram, when the price of a product increases, the decline in quantity demanded…
  12. If the consumers expect that the price of computers will decrease in next year then:
  13. The cost of firms in cournot model are:
  14. If a ten percent increase in price causes a ten percent reduction in quantity demanded, elasticity of…
  15. The addition or increment to the total cost involvesd in expanding or contracting output by one unit…
  16. The expansion point is attained by joining:
  17. In centralized cartel, the firms are like:
  18. The slope of an iso-quant represents:
  19. The nominal income of a consumer is income in terms of:
  20. The kink demand curve faced by an oligopolist is based on the assumption that:
  21. When elasticity of demand is greater than one (e >1), then following the formula MR=P[1-1/e], the MR…
  22. Monopolistic firm can fix:
  23. Competitors in monopolistic competition have full control over:
  24. The right of individuals to control productive resources is known as:
  25. The firm is said to be in equilibrium when the difference between revenue and cost is:
  26. In the case of an inferior commodity, the income-elasticity of demand is:
  27. In income effect, we:
  28. Identify the author of The Principles of political Economy and Taxation:
  29. Demand is consumers:
  30. Which describes a competitive market?