The reaction curve of a firm is attained by joining the:

A. Isoprofit curve

B. Super profit curve

C. Normal profit curve

D. Indoprofit curve

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  1. According to Marshal, the Law of Diminishing Marginal Utility:
  2. General equilibrium is concerned with simultaneous equilibrium of:
  3. Two policy variables, product and selling activities in the theory of firm was introduced by:
  4. A shift in the demand for a product is likely to result from a change in:
  5. A firms profit is equal to:
  6. If the commodity is normal then the Income Effect (I.E) and the Substitution Effect (S.E):
  7. If regardless of changes in its price, the quantity demanded of a commodity remains unchanged, then…
  8. The law of demand is most directly a result of:
  9. The slope of indifference curve shows:
  10. Who is the author of the famous work Asian Drama: An Enquiry intro the Causes of Poverty of Nations?
  11. Which of the following is not a feature of isoproduct curves?
  12. By scarcity the economist means that all goods are scarce relative the peoples:
  13. When elasticity of demand is less than one (e
  14. The cost of one thing in terms of the alternative given up is known as:
  15. If at the unchanged price, the demand for a commodity goes up, or the quantity demanded remains the…
  16. The factors of production in perfect competition are:
  17. For a commodity giving large consumers surplus, the demand will be:
  18. A producer attains the least cost combination when the relation between Marginal Rate of Technical Substitution…
  19. When a consumer is satisfied with his spending pattern, he is said to be in:
  20. If a straight line supply curve makes an intercept on the X-axis, the elasticity of supply is:
  21. In short run:
  22. The number of sellers in oligopoly is:
  23. A monopolist is able to maximize his profit when:
  24. Which of the following statement is wrong?
  25. When total revenue (TR) falls in monopoly then elasticity of demand is:
  26. The name of the system of direct exchange is:
  27. Price discrimination occurs when:
  28. When the law of demand operates the demand curve:
  29. In economist the term invisible hand is refers to:
  30. Who finalized the model of imperfect competition?