Supply of commodity is a:
A stock concept
A flow concept
Both stock and flow
None of the above
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- Supply of commodity is a:
- In case of budget line, we get pairs of two goods where consumers income is:
- Microeconomics deals with the:
- The price consumption curve (PCC) for commodity X is the locus of points of consumer equilibrium resulting…
- In perfect competition, the slope of the total revenue curve of a firm is equal to the:
- Variable costs refer to:
- If regardless of changes in its price, the quantity demanded of a commodity remains unchanged, then…
- Substitution effect means a consumer
- Price elasticity of demand is best defines as:
- If under perfect competition, in the short period, price does not cover the average cost completely,…
- We can obtain consumers demand curve from:
- If production increases under increasing returns to scale, the cost will:
- Cardinal approach includes arranging:
- There is no difference between fixed and variable factors in the:
- Extension (expansion) of demand means:
- Total fixed costs are:
- Efficient allocation of resources is achieved to a greater extent under:
- When the slope of a demand curve is zero (also known as vertical demand curve) then elasticity will…
- In monopolistic competition, the firm compete on the basis of:
- The horizontal demand curve for a commodity shows that its demand is:
- Plumbing and pipe-fitting require many of the same skills. If the wage paid to pipe-fitters increased…
- Price effect occurs on the higher IC in case of:
- An inferior good/ commodity is inferior for:
- For the equilibrium of the firm and the industry in the short period in a competitive market, the condition…
- A market-clearing price:
- Quantity demanded or supplied is measured in:
- Which of the following is assumed to be constant when drawing a demand curve?
- Which describes a competitive market?
- In case of short-run, the supply curve of an industry is the horizontal summation of:
- Technological efficiency: