Total variable costs in equation form are:





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  1. In the short-run, in which one of the following situations would a competitive seller close down (shut-down)?
  2. Who is the founder of classical school of thought?
  3. If the commodity is normal then fall in price will result in:
  4. According to current thinking, the law of diminishing returns applies to:
  5. The total utility is gained by consuming:
  6. If a new production technology for producing compact discs is developed and new firms are attracted…
  7. In monopoly, new firms:
  8. At final equilibrium in cournot model, each firm sells:
  9. In short run, a firm would remain in business as long as which one of the following of cost is covered?
  10. In the case of a giffen good, the income effect:
  11. Average cost curve contains in it:
  12. A monopoly producer usually earns:
  13. In the case of an inferior good, the income effect:
  14. By reducing the prices of its products below those of its competitors, a perfectly competitive seller:
  15. Identify the work of Irving Fisher:
  16. In monopolistic competition, the firms face:
  17. The number of sellers in duopoly is:
  18. If the demand for good is more elastic and government levied a tax per unit of output, the price per…
  19. When a consumer is satisfied with his spending pattern, he is said to be in:
  20. The horizontal demand curve for a commodity shows that its demand is:
  21. In case of straight-line isoquant, the factors are not substituted because they are each others:
  22. The elasticity of demand is equal to slope of demand function divided by:
  23. Price discrimination is possible:
  24. Capital and Development Planning is the work of:
  25. Total costs in the short-term (short-run) are classified into fixed costs and variable costs. Which…
  26. Using total revenue and total cost, a profit maximizing firm will be equilibrium at a point:
  27. Decrease in demand results in:
  28. Microeconomics is also known as:
  29. The marshallian demand curve includes:
  30. In finding equilibrium position of a profitmaximizing firm, which technique is most convenient?