The firm is said to be in equilibrium when the difference between revenue and cost is:
Maximum
Minimum
Zero
One
- The Prisoners Dilemma was presented by A.W.Tucker in:
- Labor Saving Technological Progress can be defined as:
- If cross-elasticity of one commodity for another turns out to be zero, it means they are:
- Elasticity (E) expressed by the term, 1>E>0, is:
- The Lambda or Langrange Multiplier is a:
- The longer the period of time, the elasticity of supply will be:
- Price discrimination occurs when:
- With the expansion of output, the short run average cost curve, beyond a point, starts rising because:
- In the modern theory of costs, the level of production which the firm considers feasible is known as:
- A vertical supply curve parallel to the price axis implies that the elasticity of supply is:
- According to critics, the assumption of costless production is:
- Government planners play a central role in allocating resources:
- If the price of product increases and in the result the demand for product B also increases then:
- Supply of a commodity refers to:
- A firm can never produce in the middle area of input space, in case of:
- Income distribution effects:
- To attain maximum profits during short-run a firm should produce the output that will:
- Marginal utility equals:
- The market demand for any commodity is the:
- The reaction curve of a firm is attained by joining the:
- Gold is bought and sold in a:
- Nash equilibrium is applicable in case of:
- At the point where the straight line from the origin is tangent to the TC curve, AC is:
- The cost of production is faced by a:
- According to Chamberline, in monopolistic competition, differentiation is determined by:
- Which of the following is not a U shaped curve:
- An effective price ceiling usually results in:
- Competitors in monopolistic competition have full control over:
- An increase in the supply of a commodity is caused by:
- In dominant price leadership model, the dominant firm set the: