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The difference between average cost and average revenue is:

A. Total profit

B. Average profit

C. Net profit

D. Marginal profit

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  1. Consumers are likely to get a variety of similar goods under:
  2. A typical demand curve cannot be:
  3. The slope of marshallian demand curve is:
  4. The slope of isocost line (budget line) shows:
  5. Diseconomies of management lead to:
  6. In dominant price leadership model, the dominant firm set the:
  7. At a point where a straight line demand curve meets the price axis (Y-axis), the elasticity of demand…
  8. If cross-elasticity of one commodity for another turns out to be zero, it means they are:
  9. The point on which the average cost is minimum in a firm, short run average cost curve will also be…
  10. The substitution effect works to encourage a consumer to purchase more of a product when the price of…
  11. Classical production function is:
  12. The utility function u = f(x) is based upon :
  13. The number of sellers in oligopoly is:
  14. At low prices, demand is likely to be:
  15. In microeconomics, we study:
  16. If under perfect competition, in the short period, price does not cover the average cost completely,…
  17. Marshallian approach is also known as:
  18. Which cost increases continuously with the increase in production?
  19. The reserve capacity in administration is advocated on the ground that demand for a product will:
  20. The real income of a consumer is income in terms of:
  21. Total costs are:
  22. The demand of the luxuries is:
  23. Because the price elasticity of demand for OPEC oil is approximately .08, in order to increase revenues…
  24. In finding equilibrium position of a profitmaximizing firm, which technique is most convenient?
  25. The number of sellers in duopoly is:
  26. According to Chamberline, in monopolistic competition, differentiation is determined by:
  27. Which one of the following has been the most influential work of F.H.Knight?
  28. The maximization of output subject to cost requires equilibrium at the:
  29. We get constant returns to scale when:
  30. In cournot model firms: