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The costs faced by the firm against fixed factors are:

A. Total costs

B. Fixed costs

C. Variable costs

D. Marginal costs

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  1. Marginal utility is only meant for:
  2. Supply of a commodity refers to:
  3. The right of individuals to control productive resources is known as:
  4. According to translog production function, elasticity of substitution is:
  5. If the supply curve is not a straight line but curvilinear, the elasticity on all points of the supply…
  6. Dumping is international discriminating:
  7. If the factors have to be employed in a fixed ratio, then the elasticity of substitution under Leontief…
  8. Identify the work of T.W.Schultz:
  9. If the demand curve is horizontal then its slope is:
  10. The pay-off matrix shows:
  11. Scarcity means:
  12. Law of Returns to Scale shows:
  13. Diminishing returns occur when a firm:
  14. The horizontal demand curve for a commodity shows that its demand is:
  15. A firm under perfect competition has:
  16. In monopolistic competition, the aim of the firm is to:
  17. Which is the other name that is given to the average revenue curve?
  18. If the slope of the isoquant is equal to the slope of isocost, then isoquant is:
  19. The demand for cigarettes is price inelastic implying a unit tax on this commodity will
  20. While buying two goods X and Y with unequal prices, to maximize total utility from his income, a consumer…
  21. In case of budget line, we get pairs of two goods where consumers income is:
  22. When a competitive firm is in equilibrium in the long-run, its output is such that:
  23. If demand is elastic and supply is inelastic then the burden of a tax on the good will be:
  24. Under Bandwagon effects, people use those goods which are used by their:
  25. The long run average cost curve is:
  26. Total variable costs in equation form are:
  27. Indifference curves reflect:
  28. Each SAC represents a particular level of:
  29. The slope of the iso-cost line (budget line) is determined by:
  30. An indifference curve slopes down towards right since more of one commodity and less of another result…