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The point where the supply and demand curves intersect on a graph determines:

A. Market price

B. Equilibrium price

C. Long-term price

D. Short-term price

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

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  1. In the case of two factor inputs which are neither perfectly complementary nor perfect substitutes,…
  2. If the commodity is normal then the Income Effect (I.E) and the Substitution Effect (S.E):
  3. Which describes a competitive market?
  4. In the short-run, in which one of the following situations would a competitive seller close down (shut-down)?
  5. Diminishing returns occur when a firm:
  6. The study of economic theory for the sake of certain objective is called:
  7. If the commodity is inferior then Income Effect (I.E) is:
  8. A price is a ratio of exchange between:
  9. The production function of homogeneous of degree one (n=1) is also called:
  10. In the case of a giffen good, the income effect:
  11. Because the price elasticity of demand for OPEC oil is approximately .08, in order to increase revenues…
  12. The number of sellers in oligopoly are:
  13. Kinked Demand Curve is consistent with which one of the following market situations?
  14. The alternative of profit maximization theory is:
  15. If the demand curve is vertical then its slope is:
  16. The largest possible loss that a firm will make in the short run is:
  17. Quantity demanded or supplied is measured in:
  18. With which of the following concepts is the name of J.M.Keynes particularly associated?
  19. In dominant price leadership model, the small firms are like:
  20. The market demand for any commodity is the:
  21. MC = MR = AC = AR shows the long run equilibrium position of the:
  22. When price increases and with it the total outlay on a commodity also increases, it is a case of:
  23. The word ECONOMICS is derived from the Greek terms meanings:
  24. A mixed economy is characterized by the coexistence of:
  25. If the consumers expect that the price of computers will decrease in next year then:
  26. Which of the following has more elastic demand curve?
  27. The relationship between MC and MP shown by the marginal cost concept is:
  28. If Cobb-Douglas production function is homogeneous of degree less than one (n
  29. Efficient allocation of resources is achieved to a greater extent under:
  30. The price consumption curve (PCC) for commodity X is the locus of points of consumer equilibrium resulting…