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The equilibrium of a firm is determined by the equality of MC and MR in only:

A. Under perfect competition

B. Under monopoly

C. Under imperfect competition

D. Under all the above market forms

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  1. 7.The costs which the firms have to face in order to change the price tags of their products and services…
  2. In respect of which of the following category of goods is consumers surplus highest?
  3. Which of the following is assumed to be constant when a supply curve is drawn:
  4. When elasticity of demand is greater than one (e >1), then following the formula MR=P[1-1/e], the MR…
  5. Which of the following is not a characteristic of a perfectly competitive market?
  6. Two policy variables, product and selling activities in the theory of firm was introduced by:
  7. Social costs equal private costs when:
  8. In monopolistic competition, because of difference in choices, the firm charges:
  9. If the marginal utility of apples to a consumer exceeds that of bananas then the consumer:
  10. In the long-run competitive equilibrium, the theory predicts that:
  11. The budget-line is also known as the:
  12. If the demand curve is horizontal then its slope is:
  13. When a consumer is satisfied with his spending pattern, he is said to be in:
  14. Marginal utility (MU) always:
  15. Who finalized the model of imperfect competition?
  16. The addition or increment to the total cost involvesd in expanding or contracting output by one unit…
  17. Marshallian demand function is also known as:
  18. In repeated game, the Prisoners Dillemma can have a:
  19. The minimization of costs subject to output requires equilibrium at the lowest:
  20. The goods sold by firms under monopolistic competition are technological as well as:
  21. Income distribution effects:
  22. In monopoly, new firms:
  23. Law of variable proportions is based on the assumption of:
  24. In terms of price, the indirect utility function may be:
  25. In general, most of the production functions measure:
  26. In case of monopoly, both AR and MR fall, but MR falls:
  27. In cournot model firms:
  28. Opportunity costs are also known as:
  29. When with a change in price the total outlay (expenditures) on a commodity remains constant, it is a…
  30. If in the long run all factor inputs are increased three times and the resulting output is four times…