The addition or increment to the total cost involvesd in expanding or contracting output by one unit is called:

A. Fixed cost per unit

B. Variable cost per unit

C. Total cost per unit

D. Marginal cost

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  1. If two goods are perfect substitutes then IC will be:
  2. The real income of a consumer is income in terms of:
  3. The cross-price elasticity of the demand for orange juice with respect to the price of apple juice is…
  4. The Hicksian demand curve includes:
  5. When the slope of a demand curve is infinite (also known as horizontal demand curve) then elasticity…
  6. Price discrimination is undertaken with the aim of:
  7. Scarcity means:
  8. A firm in a position of equilibrium is supposed to be maximizing:
  9. In Edgeworth model, prices oscillate between:
  10. The low cost price leader will charge:
  11. The reserve capacity in administration is advocated on the ground that demand for a product will:
  12. The competitive equilibrium leads to:
  13. Whenever a group of monopolistic competitors attains equilibrium, the firms in this group usually:
  14. The greater the percentage of income spent on a commodity:
  15. The long run average cost curve is the envelope of:
  16. Marshallian demand function is also known as:
  17. Who wrote Mathematical Analysis for Economists?
  18. The market demand shedule is determined by:
  19. The behavior of MC curve is determined by the behavior of the:
  20. The monopolist firm is price setter. The price setter firm is one which:
  21. In terms of price, the indirect utility function may be:
  22. The goods sold by firms under monopolistic competition are technological as well as:
  23. We can find total utility by:
  24. The long run total cost is attained by:
  25. A fall in demand for the product under monopolistic competition will likely result in:
  26. Price mechanism has also given the name:
  27. Price-taker firms:
  28. The total utility is gained by consuming:
  29. Which one of the following has been the most influential work of F.H.Knight?
  30. Social costs equal private costs when: