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The maximization of output subject to cost requires equilibrium at the:

A. Lowest isoquant

B. Lowest isocost line

C. Highest isoquant

D. Highest isocost line

Correct Answer : C.


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  1. A profit-maximizing monopolist in two separate markets will:
  2. The reserve capacity in administration is advocated on the ground that demand for a product will:
  3. The average cost curve is a geometrical illustration of:
  4. Isocost line shows the combinations of labor and capital where a firms budget is:
  5. The average product is given as:
  6. Identify the work of T.W.Schultz:
  7. In substitution effect and income effect:
  8. The slutsky demand curve includes:
  9. According to marginalistic rule, the profit maximization hypothesis requires:
  10. Production indifference curve (isoquant) is a curve which shows:
  11. According to M.Kalecki, the true measure of the degree of monopoly power is the:
  12. In perfect competition, the slope of the total revenue curve of a firm is equal to the:
  13. Under competitive conditions, the industry will be in equilibrium:
  14. Most of the supply curves with which the average consumer deals are:
  15. For the given production function, technical efficiency is defined as:
  16. Nash equilibrium says:
  17. The budget-line is also known as the:
  18. Under monopoly and imperfect competition MC is:
  19. Cross-elasticity of demand or cross-price elasticity between two complements will be:
  20. The slope of isocost line (budget line) shows:
  21. In cournot model, at equuilibrium when MC = MR, the elasticity of demand is:
  22. In first degree price discrimination, monopolist takes away :
  23. If the prices of goods rise then:
  24. The word ECONOMICS is derived from the Greek terms meanings:
  25. Moving along an indifference curve leaves the consumer:
  26. The long run total cost is attained by:
  27. The cost of firms in cournot model are:
  28. Which one of the following is also known as Plant Curves:
  29. 7.The costs which the firms have to face in order to change the price tags of their products and services…
  30. Ceteris paribus clause in the law of demand means: