The budget constraint equation of the firm is:





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  1. Slope of a demand curve is:
  2. The main contribution of Prof. R.G.D.Allen is in the field of:
  3. The combination of labor and capital where the cost of a given output is minimized is known as:
  4. Income-demand curve shows:
  5. Of the following, which one corresponds to fixed cost?
  6. If the commodities X and Y are perfect complements then:
  7. 4.The Law of Diminishing Returns according to the modern view, applies to:
  8. In cournot model, firms sell:
  9. When AC curve falls, MC curve falls:
  10. The cost curves of the firm shift due to changes in:
  11. Monopoly means:
  12. If the commodity is inferior then the increase in income of the consumer results in:
  13. Which of the following is assumed to be constant when a supply curve is drawn:
  14. The cross-price elasticity of the demand for orange juice with respect to the price of apple juice is…
  15. Micro economics is concerned with:
  16. The equilibrium level of output for the pure monopolist is where:
  17. Efficient allocation of resources is achieved to a greater extent under:
  18. The Cambridge School of Thought refers to the group of English economists who came under the influence…
  19. When the slope of a demand curve is zero (also known as vertical demand curve) then elasticity will…
  20. In Prisoner Dilemma, the best choice of strategy is:
  21. If the demand for good is more elastic and government levied a tax per unit of output, the price per…
  22. When the income of consumer increases then budget line will:
  23. The budget line is described by each of the following except:
  24. When a competitive firm is in equilibrium in the long-run, its output is such that:
  25. The elasticity of demand is equal to slope of demand function divided by:
  26. Elasticity of demand is equal to unity while marginal revenue is:
  27. In case of monopoly:
  28. Inputs or Factors of production are defined as:
  29. The game theory is concerned with:
  30. The cost of one thing in terms of the alternative given up is known as: