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The marginal revenue of a perfectly competitive firm is:

A. Equal to the prices of its products

B. Positively related to output

C. Negatively related to output

D. Always higher than marginal cost

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  1. Equilibrium of a discriminating monopolist requires the fulfillment of which one of the following conditions?
  2. Identify the factor, which generally keeps the price elasticity of demand for a commodity low:
  3. The Law of Equi-Marginal Utility states:
  4. In case of economic bads, an IC can be :
  5. When total revenues equal to total opportunity cost then the firm will earn:
  6. In monopolistic competition, the real differentiation in products is due to difference in:
  7. The main contribution of Alfred Marshal is in the field of:
  8. In general, most of the production functions measure:
  9. Rotten eggs are:
  10. The act of producing the output from more than one plant is concerned with:
  11. An exceptional demand curve is:
  12. The central problem of economics is:
  13. The budget-line is also known as the:
  14. The long-run average cost is based on the fact that:
  15. Equilibrium of a firm represents maximization of profits as well as:
  16. If the prices of goods rise then:
  17. The main contribution of Prof.Robbins is in the field of:
  18. The Input-Output Analysis was originated by:
  19. Demand of a commodity is elastic when:
  20. In Revealed Preference Theory, a consumer reveals preference for bundle of:
  21. The total utility is gained by consuming:
  22. For the equilibrium of the firm and the industry in the short period in a competitive market, the condition…
  23. Which of the following is not an explicit cost of production?
  24. The substitution effect works to encourage a consumer to purchase more of a product when the price of…
  25. Price discrimination occurs when:
  26. A firm in a position of equilibrium is supposed to be maximizing:
  27. If a straight line supply curve makes an intercept on the Y-axis, elasticity of supply is:
  28. Micro economics is concerned with:
  29. With the decrease in marginal valuation of a specific commodity, the price offered by the people:
  30. Who finalized the model of monopolistic competition?