Marginal cost curve
Average variable cost curve
That part of the marginal cost curve which equals or is greater than AVC
Average total cost curve
C. That part of the marginal cost curve which equals or is greater than AVC
Price leadership model
Bertrands model
Collusive model
Edgeworths model
W.W. Leontief
E.D.Domar
R.G.D.Allen
J.M.Keynes
Cannot be changed
Can be changed
Can partially be changed
None of the above
MC = AC and P=MR
MC=MR and P =AR= ATC
Constant returns to scale
Increasing returns to scale
Decreasing returns to scale
None of the above
Lowering the price, if the demand curve is elastic
Lowering the price, if the demand curve is inelastic
Rising the price, if the demand curve is elastic
None of the above is applicable
The price of substitute does not change
The taste of the consumer does not change
The income of the consumer does not change
All of the above
J.B.Clark
L.Euler
J.A.Schumpeter
Alfred Marshal
S.Kuznets
H.Liebenstein
A.O.Hirshman
Alfred Marshal
Variety of uses for that commodity
Its low price
Close substitutes for that commodity
High proportion of the consumers income spent on it
MP is negative
MP is infinite
MP is zero
None of the above
Oligopoly
Pure competition
Perfect competition
Monopolistic competition
Negative
Positive
Zero
Infinity
Negatively sloped
Vertical
Horizontal
Positively sloped
Decreasing return to scale
Increasing return to scale
Constant return to scale
None of the above
Firm to the left
Industry to the right
Firm to the right
Industry to the left
Output is maximum
Profit is maximum
Revenues are maximum
Profit is minimum
A zero economic profit
Revenues less explicit cost
About 10% for most industries
A zero accounting profit
His output is maximum
He charges a high price
His average cost is minimum
His marginal revenue is equal to marginal cost
The total utility is rising at a declining rate
The total utility is raising at an increasing rate
Total utility is maximum
Total utility is declining
Steps downwards at first and then upwards
Steps upwards, then remains constant and then falls
Steps downwards
None of the above
Less than one
Equal to one
Greater than one
Less than one
Monopolistic competition
Imperfect competition
Monopoly
Perfect competition
Zero
Its total fixed cost
Its total variable cost
Equal to one
monopolistic firms
monopoly
competitive firms
none of the above
Growth of firms processing its waste materials
Development of research bureau serving the industry
Supply of suitable skilled labor in the area
All of the above
Adam Smith
Karl Marx
Ricardo
Pigou
Monopoly
Perfect competition
Monopolistic competition
Oligopoly
Close substitutes
Good complements
Completely unrelated (independent goods)
None of the above