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When marginal costs curve cuts average costs curve, average costs are:

A. Maximum

B. Zero

C. Minimum

D. Equal to one

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  1. The production function of homogeneous of degree one (n=1) is also called:
  2. Marginal utility (MU) always:
  3. The study of economic theory for the sake of certain objective is called:
  4. The point on which the average cost is minimum in a firm, short run average cost curve will also be…
  5. The General Theory of Employment, Interest and Money is the major work of :
  6. When the output of a firm is increasing, its average fixed cost:
  7. The least cost combination of factors x , y and z will generally be the point at which:
  8. Extension (expansion) of demand means:
  9. Who is the author of Trade Cycle ?
  10. The main contribution of Malthus is in the field of:
  11. If, at the prevailing price, more of a good is desired than is available for sale:
  12. Karl Marx:
  13. The total utility (TU) curve is:
  14. The firm is at equilibrium where:
  15. Because the price elasticity of demand for OPEC oil is approximately .08, in order to increase revenues…
  16. An increase in the price of the good measured on the horizontal axis causes:
  17. The demand of the necessities is:
  18. Increase in demand occurs when:
  19. In Prisoners Dillemma, the players are:
  20. In monopoly, the relationship between average revenue and marginal revenue curves is as follows:
  21. Whish of the following represents the average revenue curve of a firm?
  22. 7.In an economy based on the price system the decision on what shall be produced is made by:
  23. Average cost curve contains in it:
  24. When a consumer is satisfied with his spending pattern, he is said to be in:
  25. If regardless of changes in its price, the quantity demanded of a commodity remains unchanged, then…
  26. In case of monopoly, the price charged against the additional unit is:
  27. The supply curve would probably shift to the right if:
  28. If the commodity is inferior then the Income Effect (I.E) and the Substitution Effect (S.E):
  29. When total product increases at a decreasing rate:
  30. All of the following are capital resources except: