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The average cost curve is a geometrical illustration of:

A. Hydraulic function

B. Cubic function

C. Pentagonic function

D. Quadratic function

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Correct Answer : D.


The quadratic function shows that if by increase the value of independent variable the value of dependent variable is decreasing then after a certain level it starts to increase and vice versa. is a quadratic function.

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  2. Total profits are maximized at the point where:
  3. Marshalls definition of economics was strongly criticised by:
  4. In dominant price leadership model, the small firms are like:
  5. An inferior good/ commodity is inferior for:
  6. Isocost line shows the combinations of labor and capital where a firms budget is:
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  8. We can find total utility by:
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  10. The non-price competition cartel is a:
  11. Iso-product curve (isoquant) shows:
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  13. The monopolist who is producing the same output from two (or more than two) plants is concerned with:
  14. The game theory was basically presented by:
  15. If the commodities X and Y are perfect substitutes then:
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  17. In an indifference curve diagram, when the price of a product increases, the decline in quantity demanded…
  18. MRSxy measures:
  19. Total Utility (TU) curve:
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  21. Which is the first-order condition for the profit of a firm to be maximum?
  22. When a consumer reached at the point of saturation then marginal utility (MU) is:
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  25. The Law of Equi-Marginal Utility states:
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