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The optimum level of output in long run takes place where:

A. LAC = LMC

B. SAC = LMC

C. SAC =MC

D. SAC =LAC

Please do not use chat terms. Example: avoid using "grt" instead of "great".

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  1. Which of the following formula determine the income elasticity of demand?:
  2. Change in demand (rise and fall of demand) is:
  3. Who first used the term Quasi-Rent?
  4. When a consumer is in equilibrium then slope of indifference curve is:
  5. The real income of a consumer is income in terms of:
  6. If the factors have to be employed in a fixed ratio, then the elasticity of substitution under Leontief…
  7. Which one of the following has been the most influential work of F.H.Knight?
  8. If the commodity is inferior then the increase in income of the consumer results in:
  9. The general form of Cobb-Douglas production function is:
  10. Under pure monopoly, there will be:
  11. Who stated explicitly for the first time the Law of Camparative Costs?
  12. The difference between accounting profits and economic profits is:
  13. All of the following are capital resources except:
  14. We can obtain consumers demand curve from:
  15. If the price of a product falls which of the following would occur?
  16. Law of Variable Proportions is regarding in:
  17. Marginal utility is only meant for:
  18. When a consumer reached at the point of saturation then marginal utility (MU) is:
  19. When a consumer is satisfied with his spending pattern, he is said to be in:
  20. The imaginary differentiation is attributed to difference in:
  21. Kinked Demand Curve is consistent with which one of the following market situations?
  22. The short run cost curve is U shaped because of:
  23. In collusive olligopoly, the firms may make:
  24. The proportionality rule in production requires that the ratios of MP and factor prices are:
  25. Which of the following is not characteristic of perfect competition?
  26. Variable costs refer to:
  27. If the price of product increases and in the result the demand for product B also increases then:
  28. Production indifference curve (isoquant) is a curve which shows:
  29. Formulation of an economic theory involves:
  30. The word ECONOMICS is derived from the Greek terms meanings: