Product markets
Factor markets
Supply and demand
a, b and c
D. a, b and c
A stock concept
A flow concept
Both stock and flow
None of the above
When he cannot produce at an economic profit
When price falls short of average variable cost at every level of output
When price falls short of average fixed cost at every level of output
When price falls short of average total cost at every level of output
Beef
Mutton
Bread
Motion-picture tickets
All fields of production
Agriculture
Mining
Manufacturing
It gets more expensive
A household consumes more of it
Preference changes
A households income goes up
Increase in demand for Y
Decrease in demand for Y
Increase in demand for both X and Y
Increase in demand for Y
Vertical
Horizontal
Controlled by the largest producers
Unaffected by inflation
Output
Sales
Profits
None of the above
ATC
AVC
AFC
None of the above
Monopoly
Oligopoly
Imperfect competition
Perfect competition
Save as much of his income as possible
Spend as much of his income as possible
Buy everything at the lowest possible price
Make wise choices among available economic goods
Abnormal profits
Only normal profits
Neither profits nor losses
Profits and losses which are uncertain
Negatively sloped demand curve
Positively sloped demand curve
Horizontal demand curve
Vertical demand curve
The firms producing with excess capacity
The firms producing at their minimum costs
Firms producing at a cost higher than the minimum
Some firms producing under decreasing costs and others under increasing costs
Perfect elasticity (infinitely elastic)
Relative elasticity (greater than one elasticity)
Perfect inelasticity (zero elasticity)
Relative inelasticity (less than one elasticity)
Non-cooperative outcome
Cooperative outcome
Dominant behavior
Recessive behavior
Charge different prices, but produce identical outputs
Produce different outputs, but charge identical prices
Charge different prices, and produce different outputs
None of the above
MRS
MRT
MRTS
MRPS
Higher prices
Increased prices
Increased consumption
Shortage of products
Sunspot Theory
Monetary Theory
Saving-Investment Theory
Innovation Theory
Price theory
Demand theory
Supply theory
Income theory
P=AR and P>MR
P=MC and MC=AC
None of the above
Single-plant monopolist
Multi-plant monopolist
Two-plant monopolist
Some-plant monopolist
Competitive firm
Oligopolistic firm
Monopolist firm
None of the above
Horizontal demand curve
Vertical demand curve
Similar demand curve
Differential demand curve
Control over production but not over price
Control neither on production nor on price
Control over consumers
Control over production as well as over price
Supply
Demand
Production
Consumption
Decreasing returns to scale
Constant returns to scale
Increasing returns to scale
maximum returns to scale
Frustration
Poverty
Uncertainty
Integrity
Perfectly competitive international market
Perfectly competitive national market
Imperfect international market
Imperfect local market