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The relationship between MC and MP shown by the marginal cost concept is:

A. Inverse

B. Direct

C. Negative

D. Positive

Correct Answer : A.


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  1. Supply of commodity is a:
  2. If demand increased and supply decreased then:
  3. The monopolist who is producing the same output from two (or more than two) plants is concerned with:
  4. The slope of marshallian demand curve is:
  5. When total revenue is maximum in monopoly, elasticity of demand is:
  6. According to Chamberlin, the activity of a monopolistic competitive firm:
  7. In long run, a firm can change:
  8. Formulation of an economic theory involves:
  9. According to M.Kalecki, the true measure of the degree of monopoly power is the:
  10. Cross-elasticity of demand or cross-price elasticity between two independent goods will be:
  11. Moving along an indifference curve leaves the consumer:
  12. If as a result of a decrease in price, total outlay (expenditures) on a commodity increases, its price-elasticity…
  13. The amount of income left over for a consumer in equilibrium is :
  14. Competitors in monopolistic competition have full control over:
  15. If regardless of changes in its price, the quantity demanded of a commodity remains unchanged, then…
  16. If cross-elasticity of one commodity for another turns out to be zero, it means they are:
  17. The optimal strategy for a player is termed as:
  18. If there are many firms producing similar but differentiated products, the competition is generally…
  19. In cournot model, each firm expects a reaction from his rival but the expected reaction is not:
  20. The entry of new firms in cournot model is:
  21. At the point where a straight line demand curve meets the quantity axis (x-axis), elasticity of demand…
  22. The average product is given as:
  23. Labor theory was firstly rejected by:
  24. Elasticity of demand is equal to unity while marginal revenue is:
  25. In the case of substitutes, the cross demand curve slopes
  26. Chamberline introduces the concept of:
  27. Diseconomies of management lead to:
  28. The greater the percentage of income spent on a commodity:
  29. The cost of one thing in terms of the alternative given up is known as:
  30. The arc elasticity is the measure of average elasticity at the mid-point of the chord and connects: