The minimization of costs subject to output requires equilibrium at the lowest:
Isoquant line
Isocost line
Indifference curve
Price line
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- The equilibrium conditions, MC = MR = AR = AC, will happen:
- With the decrease in marginal valuation of a specific commodity, the price offered by the people:
- The model which gives us information about price and output changes in different periods is:
- In which case the elasticity shown by the different points of a curve is the same?
- Cartel is associated with:
- A significant property of the Cobb-Douglas production function is that the elasticity of substitution…
- The alternative of profit maximization theory is:
- In case of monopoly:
- If a ten percent increase in price causes a ten percent reduction in quantity demanded, elasticity of…
- The cost curves of the firm shift due to changes in:
- 7.The costs which the firms have to face in order to change the price tags of their products and services…
- When a consumer reached at the point of saturation then marginal utility (MU) is:
- In monopolistic competition, the firm compete on the basis of:
- Each firm in cournot model starts selling:
- In microeconomics, we study:
- A budget line shows:
- To calculate the elasticity of demand, which of the following formula is used?:
- The reaction curve of a firm is attained by joining the:
- The demand curve slopes downwards due to:
- Supply curves are most elastic:
- One common definition of a luxury good is a good with income elasticity:
- The relationship between price effect, income effect and substitution effect is:
- If at the unchanged price, the demand for a commodity goes up, or the quantity demanded remains the…
- In the immediate run:
- If as a result of an increase in prices, total outlay (expenditures) on a commodity decreases, its price-elasticity…
- Increasing return to scales can be explained in terms of:
- According to Smith, by value we mean the value with respect to use, and the price we mean the value…
- When a consumer is in equilibrium then slope of indifference curve is:
- The imaginary differentiation is attributed to difference in:
- If money income is given then consumer is in equilibrium when: