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When total product (TP) is maximum:

A. MP is negative

B. MP is infinite

C. MP is zero

D. None of the above

Correct Answer : C.


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  1. In a socialist (communist) economy the invisible hand:
  2. An iso-product (an isoquant) curve slopes:
  3. The budget line is described by each of the following except:
  4. Marginal revenue from a given output:
  5. In the immediate run:
  6. Loanable funds theory of Interest was developed by:
  7. Marginal Utility (MU) curve is always:
  8. The entry of new firms in cournot model is:
  9. The cournot model is a model of:
  10. In terms of price, the indirect utility function may be:
  11. Nash Equilibrium is stable:
  12. When marginal costs curve cuts average costs curve, average costs are:
  13. In case of monopoly, both AR and MR fall, but MR falls:
  14. The indirect utility function is a homogeneous function of:
  15. Excess capacity is not found under:
  16. Any expansion in output by a firm in the short period will always reduce the:
  17. Equilibrium of a firm represents maximization of profits as well as:
  18. Marginal cost is the cost:
  19. A decrease in demand lowers the price the most:
  20. The Tit for Tat strategy means cooperation by the 2nd firm if:
  21. Price discrimination is undertaken with the aim of:
  22. If the increase in demand is more than the increase in supply, the price will:
  23. Under competitive conditions, the industry will be in equilibrium:
  24. Indifference curve approach (ordinal approach) is superior to utility approach (cardinal approach) because:
  25. A normal profit is:
  26. The market demand shedule is determined by:
  27. The water diamond paradox was firstly resolved with the help of:
  28. Change in demand refers to:
  29. The long run total cost is attained by:
  30. If a firm is producing output at a point where diminishing returns have set in, this means that: