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The relationship between AC and MC curves depend upon the behavior of:

A. AP curves

B. MP curves

C. Both of them

D. None of them

Correct Answer : C.


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  2. Traditionally, the study of determination of price is called:
  3. In finding equilibrium position of a profitmaximizing firm, which technique is most convenient?
  4. The combination of labor and capital where the cost of a given output is minimized is known as:
  5. The falling part of total Utility (TU) curve shows:
  6. In the perfect competition, there is a process of:
  7. A good tends to have relatively inelastic demand, if:
  8. Utility means:
  9. Price is measured in:
  10. Now-a-days in real life, we are unable to fined:
  11. Using total revenue and total cost, a profit maximizing firm will be equilibrium at a point:
  12. The concept of period refers to:
  13. If the demand curve is inelastic then:
  14. Entry of new firms into a competitive market will shift the supply curve of the:
  15. The CES production function shows:
  16. According to current thinking, the law of diminishing returns applies to:
  17. Total variable costs in equation form are:
  18. In case of monopoly, the slope of MR is:
  19. In economic term water is a:
  20. If production increases under constant returns to scale, the cost will:
  21. If a firm produces zero output in the short period then which statement is true?
  22. The economic problem of determining the combination of inputs yielding lowest cost for producing a given…
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  25. In monopoly and perfect competition, TC curves are:
  26. The general markets results from the imposition of price ceilings has been:
  27. In the case of an inferior commodity, the income-elasticity of demand is:
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  29. Social costs equal private costs when:
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