The entry of new firms in cournot model is:

A. Banned

B. Free

C. Partially free

D. Allowed

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  1. At a point where a straight line demand curve meets the price axis (Y-axis), the elasticity of demand…
  2. The least cost combination of factors x , y and z will generally be the point at which:
  3. Efficient allocation of resources is likely to be achieved under:
  4. If regardless of changes in its price, the quantity demanded of a commodity remains unchanged, then…
  5. Suppose income increases by 10% and demand for commodity increases by 5% then the income elasticity…
  6. In the case of superior (normal) commodity, the income elasticity of demand is:
  7. The shape of the TC curve is:
  8. The central problem of economics is:
  9. If two goods are complements then indifference curve (IC) will be:
  10. Excess capacity is not found under:
  11. The horizontal demand curve for a commodity shows that its demand is:
  12. The general form of Cobb-Douglas production function is:
  13. In cournot model firms:
  14. The main objective of the firm is to:
  15. The law of variable proportions comes into being when:
  16. Which form of market structure is characterized by interdependence in decision-making as between the…
  17. If a straight line supply curve makes an intercept on the X-axis, the elasticity of supply is:
  18. The competitive equilibrium leads to:
  19. The expansion point is attained by joining:
  20. In cournot model, firms make decisions separately regarding:
  21. If the marginal utility is divided by the price of the commodity then it is called:
  22. Most of the supply curves with which the average consumer deals are:
  23. Airlines that try to lower fares in order to increase revenues believe that demand for airline services…
  24. When a consumer is in equilibrium then slope of indifference curve is:
  25. The longer the period of time, the elasticity of supply will be:
  26. The proportional demand curve in monopolistic competition (also in kinked demand curve model), is like…
  27. If two goods have same marginal utility for a consumer then:
  28. Identify the author of The Affluent Society?
  29. When a competitive firm is in equilibrium in the long-run, its output is such that:
  30. Normally when price per unit of time falls: