Fixed cost per unit
Variable cost per unit
Total cost per unit
Marginal cost
D. Marginal cost
monopolistic firms
monopoly
competitive firms
none of the above
Decreasing returns to scale
Variable returns to scale
Constant returns to scale
Increasing returns to scale
Explicit costs
Implicit costs
Social costs
Private cost
Hiring the building for the factory
Purchasing heavy machines
Paying the manager of the factory
Paying the laborers
Greater than one
Equal to one
Less than one but more than zero
None of the above
Zero
Infinite
Equal to one
Greater than zero but less than infinite
More elastic
Less elastic
Unit elastic
Zero elastic
% change in quantity demanded % change in income
% change in income % change in quantity demanded
Change in income Change in quantity demanded
None of the above
none of the above
Goods into services
Output into inputs
Inputs into outputs
None of the above
Economic combinations of labor and capital
Uneconomic combinations of labor and capital
Both a and b
None of the above
Imperfect substitutes
Perfect substitutes
Complements
None of the above
Positive Economics
Normative Economics
Micro Economics
Development Economics
Marginal cost
Production cost
Labor cost
Supply cost
Productive resources such as labor and capital equipment that firms use to manufacture goods and services are called inputs or factors of production
Unproductive resources that do not take part in production process are called inputs or factors of production
Firms own resources are called inputs or factors of production
None of the above
A given quantity of output that can be produced by various combinations of two inputs
Varying quantities of output that can be produced by the same combination of two factors
Combination of two factors that can give the least cost of production
Combination of two goods that cost the same amount to the producer
Resources of the economy
Interests of the economy
Limitations of the economy
Qualities of the economy
Declining productivity
Increasing consumption
Limited material wants
Limited resources and unlimited wants
None of the above
equal to one
zero
negative
equal to 2
Societys knowledge of production
Applied science
Knowledge of science and mathematics
None of the above
The productivity of factors of production
The relation between the factors of production
The economies of scale
The relations between change in physical inputs and physical output
Demand curve is more than supply curve
Supply curve is more than demand curve
Supply curve is equal to demand curve
None of the above
Timeless phenomenon
Short run phenomenon
Long run phenomenon
None of the above
Oligopoly
Perfect competition
Imperfect competition
None of the above
L/K ratio
K/L ratio
P/L ratio
P/K ratio
Inelastic demand in foreign markets
Elastic demand in foreign markets
Unit elastic demand in foreign markets
None of the above
Applies on both money and other commodities
Does not apply on money
Does not apply on bank money but applies on cash money
Applies on all the commodities except on money
A rising supply curve
A rising demand curve
A falling supply curve
A falling demand curve
Upward shift in demand curve
Downward shift in demand curve
Movement on the same demand curve
No movement or shift at all