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The output where TC = TR & AC = AR:

A. Break-even point

B. Load point

C. Shut-down point

D. Revenue cost point

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  1. A price is a ratio of exchange between:
  2. The equilibrium of a firm is determined by the equality of MC and MR in only:
  3. In substitution effect and income effect:
  4. Increasing return to scales can be explained in terms of:
  5. When the demand curve is rectangular hyperbola, it represents:
  6. Supply of a commodity refers to:
  7. When was Adam Smiths major work An Enquiry into the Nature and Causes of Wealth of Nations published?
  8. In the short-run, in which one of the following situations would a competitive seller close down (shut-down)?
  9. Elasticity (E) expressed by the term, 8 >E>1, is:
  10. The giffen paradox is an exception to law of:
  11. With which of the following concepts is the name of J.M.Keynes particularly associated?
  12. If the commodity is inferior then the Income Effect (I.E) and the Substitution Effect (S.E):
  13. A monopolist is able to maximize his profit when:
  14. According to Chamberlin, the activity of a monopolistic competitive firm:
  15. Supply curves are most elastic:
  16. The Modern and Neo-Keynsian Theory of Interestwas presented by:
  17. Cardinal approach includes arranging:
  18. All of the following curves are U-Shaped except:
  19. In the short-run, the competitive firm can maximize its profits (or minimize its losses) by:
  20. The main contribution of Adam Smith is in the field of:
  21. Classical production function is:
  22. The firm producing at the minimum point of the AC curve is said to be:
  23. External economies are witnessed in:
  24. The main contribution of Prof. R.G.D.Allen is in the field of:
  25. A dominant strategy can best be described as:
  26. Diminishing returns occur when a firm:
  27. Total utility:
  28. If demand increased and supply decreased then:
  29. Most of the supply curves with which the average consumer deals are:
  30. The real income of a consumer is income in terms of: