Explicit cost

Implicit cost

Variable cost

Fixed cost

**Iso-product curve (isoquant) shows:****If the supply and demand increases equally, the price will:****If the commodities X and Y are perfect substitutes then:****If Cobb-Douglas production function is homogeneous of degree less than one (n****Economics is a:****The Hicksian indirect utility function in the form of equation is:****According to Smith, by value we mean the value with respect to use, and the price we mean the value…****When the level of optimal factor combination is over and more labor is employed with the fixed plant,…****On all points of budget (price) line:****On a straight line demand curve, elasticity of demand at the midpoint is:****In a competitive market, price is determined primarily by:****When elasticity of demand is greater than one (e >1), then following the formula MR=P[1-1/e], the MR…****Which of the following is not a feature of isoproduct curves?****The main contribution of Prof.Robbins is in the field of:****Average cost means:****The study of economic theory for the sake of certain objective is called:****Which form of market structure is characterized by interdependence in decision-making as between the…****The cost of firms in cournot model are:****The study of economics just in theoretical way is called:****When at a given price, the quantity demanded of a commodity is more than the quantity supplied, there…****In monopoly, the relationship between average revenue and marginal revenue curves is as follows:****The Lambda or Langrange Multiplier is a:****In first degree price discrimination, monopolist takes away :****Who developed the concept of Representative Firm?****Marginal Productivity Theory deals with the theory of:****In the case where two commodities are good substitutes then cross elasticity will be:****Extension (expansion) and contraction of demand are result of:****Economic problems arise because:****Indifference curves reflect:****A good tends to have relatively inelastic demand, if:**