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The horizontal demand curve for a commodity shows that its demand is:

A. Highly elastic

B. Perfectly inelastic

C. Perfectly elastic

D. Zero elastic

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  1. In substitution effect and income effect:
  2. The pay-off matrix shows:
  3. To attain maximum profits during short-run a firm should produce the output that will:
  4. We get constant returns to scale when:
  5. In perfect competition, the slope of the total revenue curve of a firm is equal to the:
  6. Price elasticity of demand can be measured in the following way:
  7. Diseconomies of management lead to:
  8. If a firm produces zero output in the short period then which statement is true?
  9. Market allocation fundamentally relies upon:
  10. If the demand for good is more elastic and government levied a tax per unit of output, the price per…
  11. The long-run AC curve is constructed from:
  12. In Edgeworth model, if price falls below competitive price, the demand is:
  13. In case of complementary factors, the isoquants are:
  14. All the firms with identical costs under perfect competition well, in the long-run, earn only:
  15. Cross-elasticity of demand or cross-price elasticity between two independent goods will be:
  16. A high value of cross-elasticity indicates that the two commodities are:
  17. The partial equilibrium model keeps other things:
  18. Two policy variables, product and selling activities in the theory of firm was introduced by:
  19. The number of sellers in oligopoly are:
  20. Total variable costs in equation form are:
  21. LMC represents change in LTC (long-run total cost) due to producing an additional unit of a good while…
  22. The normal long-run average cost curve is influenced by the:
  23. If the consumers expect that the price of computers will decrease in next year then:
  24. Price leadership is associated with:
  25. The spending of money by the producer to influence consumers is an example of:
  26. In cournot model, each firm makes decision regarding:
  27. Demand of a commodity is elastic when:
  28. Compared to perfect competition, a monopolist will charge:
  29. Which of the following is assumed to be constant when a supply curve is drawn:
  30. Marshallian demand function is also known as: