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Marginal utility (MU) always:

A. Increases

B. Decreases

C. Remains constant

D. None of above

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  1. The short run cost curve is U shaped because of:
  2. In economic term water is a:
  3. In case of monopoly, when total revenue is maximum:
  4. The average product is given as:
  5. In case of straight-line isoquant, the factors are not substituted because they are each others:
  6. The long-run AC curve is constructed from:
  7. In repeated game, the Prisoners Dillemma can have a:
  8. Price is measured in:
  9. Under the perfect competition, the transportation cost:
  10. If demand increased and supply decreased then:
  11. AR curve under perfect competition:
  12. When elasticity of demand is one (e=1), then following the formula MR=P[1-1/e], the MR will:
  13. Elasticity (E) expressed by the term, 1>E>0, is:
  14. The standard form of demand function is:
  15. The concept of period refers to:
  16. The giffen paradox is an exception to law of:
  17. The products, under monopolistic competition are differentiated, yet they are:
  18. Elasticity of Substitution (s) is defined as:
  19. In monopolistic competition, the customers are attached with one product because of:
  20. We can write ordinal utility function as:
  21. An income demand curve of an inferior good is:
  22. The slope of an iso-quant represents:
  23. If the slope of the isoquant is equal to the slope of isocost, then isoquant is:
  24. In Revealed Preference Theory, a consumer reveals preference for bundle of:
  25. Equilibrium of a firm represents maximization of profits as well as:
  26. The main contribution of Alfred Marshal is in the field of:
  27. Indifference curve approach (ordinal approach) is superior to utility approach (cardinal approach) because:
  28. A firm considering what type of new plant to build is involved in a:
  29. Which cost increases continuously with the increase in production?
  30. Economic problems arise because: