Under conditions of perfect competition, price in the long-run is equal to:

A. Minimum of average variable cost

B. Minimum of marginal cost

C. Minimum of average fixed cost

D. Minimum of average cost

Please do not use chat terms. Example: avoid using "grt" instead of "great".

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