The vertical distance between TVC and TC is equal to:





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  1. Under monopolistic competition, in long-run there is:
  2. One common definition of a luxury good is a good with income elasticity:
  3. The slope of marshallian demand curve is:
  4. Isocost line shows the combinations of labor and capital where a firms budget is:
  5. The kink demand curve faced by an oligopolist is based on the assumption that:
  6. A normal profit is:
  7. When price decreases and with it the total outlay on a commodity also decreases, it is a case of:
  8. The main contribution of Prof. R.G.D.Allen is in the field of:
  9. Production function shows:
  10. The ordinal approach was presented by:
  11. Under Bandwagon effects, people use those goods which are used by their:
  12. On the total utility curve the economically relevant range is the portion over which:
  13. The firms in non-cooperative games:
  14. The equilibrium of a firm is determined by the equality of MC and MR in only:
  15. Selling costs are incurred under monopolistic competition to:
  16. Total costs are:
  17. If Marginal Utility (MU) is zero, then total utility is:
  18. According to Cobb-Douglas, in production function the marginal product of labor is:
  19. The law of Diminishing Marginal Utility implies that the marginal utility of a good decreases as:
  20. Contracts made by firms in cooperative games are:
  21. When total revenue is maximum in monopoly, elasticity of demand is:
  22. Which of the following is assumed to be constant when drawing a demand curve?
  23. Price is measured in:
  24. In the theory of firm, Chamberline presented the idea of:
  25. A budget line shows:
  26. The total utility is gained by consuming:
  27. The Hicksian indirect utility function in the form of equation is:
  28. Utility is:
  29. The general form of Cobb-Douglas production function is:
  30. By saying that monopolist create a contrived scarcity, economist mean that monopolist: