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When total product increases at a decreasing rate:

A. MP = AP

B. MP < AP

C. MP > AP =0

D. MP > AP

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  1. The point where the supply and demand curves intersect on a graph determines:
  2. In monopolistic competition, the aim of the firm is to:
  3. The average cost curve is a geometrical illustration of:
  4. The amount of income left over for a consumer in equilibrium is :
  5. Who introduced the concept of Elasticity of Demand into economic theory?
  6. Dumping is international discriminating:
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  8. In Edgeworth model, price remains:
  9. In Bertrand model, the entry of new firms is:
  10. When a consumer reached at the point of saturation then marginal utility (MU) is:
  11. The total utility is gained by consuming:
  12. Suppose income increases by 10% and demand for commodity increases by 5% then the income elasticity…
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  14. The budget constraint can be written as:
  15. When the income of consumer increases then budget line will:
  16. In general, most of the production functions measure:
  17. When with a change in price the total outlay (expenditures) on a commodity remains constant, it is a…
  18. If demand is elastic and supply is inelastic then the burden of a tax on the good will be:
  19. Which one of the following is also known as Plant Curves:
  20. Change in demand (rise and fall of demand) is:
  21. The equilibrium of a firm is determined by the equality of MC and MR in only:
  22. Who stated explicitly for the first time the Law of Camparative Costs?
  23. Indifference curves reflect:
  24. General Equilibrium deals with the equilibrium of the:
  25. The effect of consumer boycotts usually is:
  26. On the total utility curve the economically relevant range is the portion over which:
  27. The slope of an iso-quant represents:
  28. In case of complementary factors, the isoquants are:
  29. A firm will be in equilibrium when the lowest isocost is:
  30. Which of the following formula determine the income elasticity of demand?: