MC is given by:
The slope of the TVC curve
The slope of the TVC curve but not the slope of the TC curve
The slope of the TC curve but not by the slope of the TVC curve
Either the slope of the TVC curve or the slope of the TC curve
Correct Answer :
D. Either the slope of the TVC curve or the slope of the TC curve
Related Questions
If the commodities X and Y are perfect complements then:
None of the above
The cournot model is a model of:
Instable equilibrium
Stable equilibrium
Constant equilibrium
Fluctuating equilibrium
The monopolist often lead to exploitation of:
Producers
Workers
Managers
Consumers
The situation of single buyer and single seller is called:
Monopoly
Multi-plant monopolist
Bilateral monopoly
Price discrimination
Some economists refer to iso-product curves as:
Engels curve
Production indifference curve
Budget line
Ridge line
In income effect, we:
Move to another indifference curve
Move along given indifference curve
Move to lower indifference curve
Move to upper indifference curve
Change in demand refers to:
Movement on the same demand curve
Upward shift of the demand curve
Downward shift of the demand curve
Upward or downward shift of the demand curve
The difference between accounting profits and economic profits is:
Implicit costs
Explicit costs
Fixed costs
Variable costs
The Prisoners Dilemma was presented by A.W.Tucker in:
1910
1945
1900
1940
The short run cost curve is U shaped because of:
The operation of increasing cost
The existence of fixed cost
The existence of variable cost
All of the above
The kinked demand curve comes into being where:
Proportional demand curve (PDC) and individual demand curve (IDC) intersect each other
Proportional demand curve (PDC) and individual demand curve (IDC) are parallel to each other
Proportional demand curve (PDC) and individual demand curve (IDC) repel each other
None of the above
In monopolistic competition, the real differentiation in products is due to difference in:
Style
Consumer
Cost
Material
The demand of the necessities is:
More elastic
Less elastic
Unit elastic
Zero elastic
When a competitive firm is in equilibrium in the long-run, its output is such that:
Costs per unit of output are lowest
Total profits are highest
Marginal cost is lowest
Profit per unit of output is zero
When the slope of a demand curve is zero (also known as vertical demand curve) then elasticity will be:
Zero (perfectly inelastic)
Equal to one (unitary elastic)
Infinite (perfectly elastic)
None of the above
In case of budget line, we get pairs of two goods where consumers income is:
Fully spent
Half spent
Partially spent
Correctly spent
By saying that monopolist create a contrived scarcity, economist mean that monopolist:
Restrict output to increase price
Produce where MC > P
Create a gap b/w quantity demanded and supplied
None of the above
Marginal utility is only meant for:
Half utility
Full utility
Additional utility
Multiplied utility
The consumer is in equilibrium at the where:
Budget line and indifference curve intersect each other
Budget line and indifference curve are tangent to each other
Budget line and indifference curve are opposite to each other
Budget line and indifference curve are parallel to each other
Increasing returns is not caused by:
Specialization of labor
Technological advancement
Marketing economics
Varying factor proportions
The total revenue curve for monopolist is the shape of:
Circle
Rectangle
Parabola
None of the above
If as a result of a decrease in price, total outlay (expenditures) on a commodity increases, its price-elasticity of demand is:
Perfectly elastic (infinitely elastic)
Relatively elastic (greater than one elasticity)
Unit elastic
Relatively inelastic (less than one elasticity)
The isoquant approach is based upon:
One output
One input
Two outputs
Two inputs
By reducing the prices of its products below those of its competitors, a perfectly competitive seller:
Reduces its revenues
Increases its revenues
Can sell nothing
None of the above
Of the following, which one corresponds to fixed cost?
Payments for raw materials
Labor cost
Transportation charges
Insurance premium on property
The budget constraint equation of the firm is:
In 1890, Principles of Economics was written by:
Prof. Robbins
Alfred Marshal
Prof. Senior
Adam Smith
If the commodity is inferior then the increase in income of the consumer results in:
More purchase
Less purchase
Same purchase
None of the above
The situation in between the extremes of the govt. controlled, planned economy and the perfectly free, unplanned economy is known as:
Developed economy
Laissez-fair economy
Mixed economy
Capitalistic economy
In Nash Equilibrium:
Each player has a dominant strategy
No players have a dominant strategy
At least one player has a dominant strategy
Players may or may not have dominant strategies