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Micro economics is concerned with:

A. Product markets

B. Factor markets

C. Supply and demand

D. a, b and c

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

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  1. Pure monopoly exists:
  2. Because of selling costs, the demand curve of a firm shifts:
  3. Extension (expansion) and contraction of demand are result of:
  4. If a ten percent increase in price causes a ten percent reduction in quantity demanded, elasticity of…
  5. If price exceeds AVC but in smaller than AC at the best level of output, the firm is:
  6. Which of the following is called Gossens first law?
  7. Opportunity costs are also known as:
  8. According to Smith, by value we mean the value with respect to use, and the price we mean the value…
  9. A market demand schedule is obtained by adding individual demand schedules:
  10. A firm enjoys maximum control over the price of its product under:
  11. The longer the period of time, the elasticity of supply will be:
  12. According to Robbins, economics is a:
  13. Whish of the following represents the average revenue curve of a firm?
  14. Under Bandwagon effects, people use those goods which are used by their:
  15. Total costs in the short-term (short-run) are classified into fixed costs and variable costs. Which…
  16. The demand for cigarettes is price inelastic implying a unit tax on this commodity will
  17. The elliptical isoquant represents the:
  18. A monopolist is able to maximize his profit when:
  19. Which is not an essential feature of a socialist economy?
  20. Supply curves are most elastic:
  21. The main contribution of Adam Smith is in the field of:
  22. Who wrote A Contribution to the Theory of Trade Cycle?
  23. The production function of homogeneous of degree one (n=1) is also called:
  24. The demand curve of giffen goods will be:
  25. The slope of an iso-quant represents:
  26. The situation of single buyer and single seller is called:
  27. The production possibility curve (PPC) is concerned with:
  28. The vertical distance between TVC and TC is equal to:
  29. Cournot equilibrium is attained where two reaction curves:
  30. For a few products such as insulin for diabetics,: