Under conditions of perfect competition, price in the long-run is equal to:
Minimum of average variable cost
Minimum of marginal cost
Minimum of average fixed cost
Minimum of average cost
- At final equilibrium in cournot model, each firm sells:
- Increasing returns imply:
- If the prices of goods rise then:
- Nash equilibrium is applicable in case of:
- The Law of Equi-Marginal Utility states:
- Which form of market structure is characterized by interdependence in decision-making as between the…
- The main contribution of Alfred Marshal is in the field of:
- The short-run periods in monopolistic competition are:
- The addition or increment to the total cost involvesd in expanding or contracting output by one unit…
- A high value of cross-elasticity indicates that the two commodities are:
- MRSxy measures:
- A maximin strategy:
- In the long run:
- With firms having cost differences under perfect competition, a firm, which earns normal profit in the…
- If a person behaves against the laws of economics then:
- Theory of revealed preference is based on:
- In real life firms:
- In monopoly:
- Who finalized the model of monopolistic competition?
- The supply curve would probably shift to the right if:
- Extension (expansion) of demand means:
- Which industries spend a relatively large share of their revenue on research and development in order…
- Who is the author of Problems of Capital Formation in Underdeveloped Countries?
- The arc elasticity is the measure of average elasticity at the mid-point of the chord and connects:
- J.R.Hicks was:
- According to Marginalists, the price of any commodity is determined by:
- Which of the following conditions is met in the long-run equilibrium in monopolistic competition, where…
- Of the following commodities, which has the lowest price-elasticity of demand?
- If demand increased and supply decreased then:
- The necessary condition of firms equilibrium requires: