Under the law of variable proportions, the average and the marginal product of the variable factor would ultimately:
Become equal
Decrease
Become constant
Increase
- In second degree price discrimination, monopolist takes away :
- The production function can convey to a firm:
- Marginal utility (MU) always:
- According to Saint Thomas Aquinas value is determined by God, but prices by:
- The cost of firms in cournot model are:
- The firm is at equilibrium where:
- Elasticity of Substitution (s) is defined as:
- The long run total cost is attained by:
- If a firm is producing output at a point where diminishing returns have set in, this means that:
- In joint-profit maximization cartel, central agency sets the:
- When AC curve falls, MC curve falls:
- Which of the following is not characteristic of perfect competition?
- Formulation of an economic theory involves:
- Marshalls definition of economics was strongly criticised by:
- In the case where two commodities are good substitutes then cross elasticity will be:
- In the long-run competitive equilibrium:
- Nash equilibrium is applicable in case of:
- In monopolistic competition, if a firm lowers its price, the rival firms will:
- In Edgeworth model, price remains:
- On the total utility curve the economically relevant range is the portion over which:
- Production function relates:
- Competitors in monopolistic competition have full control over:
- Supply and demand changes have their most rapid impact in:
- In case of complementary factors, the isoquants are:
- When price increases and with it the total outlay on a commodity also increases, it is a case of:
- Which is the correct statement?
- The main contribution of Alfred Marshal is in the field of:
- According to Chamberlin, the activity of a monopolistic competitive firm:
- The slope of marshallian demand curve is:
- According to Cobb-Douglas, in production function the marginal product of labor is: