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The arc elasticity is the measure of average elasticity at the mid-point of the chord and connects:

A. Two points on demand curve

B. Two points on supply curve

C. Many points on demand curve

D. Many points on demand curve

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  1. The general form of Cobb-Douglas production function is:
  2. For a few products such as insulin for diabetics,:
  3. Utility means:
  4. Marshalls definition of economics was strongly criticised by:
  5. Which describes a competitive market?
  6. If production increases under constant returns to scale, the cost will:
  7. The short-run supply curve of the perfectly competitive firm is given by:
  8. The slope of marshallian demand curve is:
  9. The equilibrium of a firm is determined by the equality of MC and MR in only:
  10. Which of the following is the work of A.C.Pigou?
  11. The production function of homogeneous of degree one (n=1) is also called:
  12. In dominant strategies I am doing the best, I can no matter:
  13. The budget constraint equation of the firm is:
  14. Demand is elastic when the coefficient of elasticity is:
  15. The main contribution of David Ricardo is in the field of:
  16. A demand curve is not related to:
  17. If the price of a product falls then quantity demanded tends to increase ceteris paribus because:
  18. Excess capacity is not found under:
  19. In the case of an inferior commodity, the income-elasticity of demand is:
  20. Who introduced the concept of Elasticity of Demand into economic theory?
  21. Labor theory was firstly rejected by:
  22. If the demand curve is vertical then its slope is:
  23. In Edgeworth model, if price falls below competitive price, the demand is:
  24. Inputs or Factors of production are defined as:
  25. Microeconomics deals with the:
  26. In modern cost theory, AVC= b1 and MC= b1 in the range of:
  27. An optimum level of a firms output is:
  28. Which one of the following is also known as Plant Curves:
  29. In the range of excess capacity, the average costs are:
  30. The relationship between MC and MP shown by the marginal cost concept is: