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Which cost increases continuously with the increase in production?

A. Average cost

B. Marginal cost

C. Fixed cost

D. Variable cost

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  1. Who is the founder of classical school of thought?
  2. Marginal revenue from a given output:
  3. Who first formulated the Marginal Productivity Theory of Distribution?
  4. In a perfectly competitive market, suppliers must know:
  5. Who wrote A Contribution to the Theory of Trade Cycle?
  6. A dominant strategy can best be described as:
  7. In the case of two factor inputs which are neither perfectly complementary nor perfect substitutes,…
  8. A market-clearing price:
  9. With the expansion of output, the short run average cost curve, beyond a point, starts rising because:
  10. In centralized cartel, the firms are like:
  11. When was Adam Smiths major work An Enquiry into the Nature and Causes of Wealth of Nations published?
  12. Which of the following is assumed to be constant when a supply curve is drawn:
  13. The external economies of scale experienced by a firm include the:
  14. Total utility and price are:
  15. Of the following, which one corresponds to fixed cost?
  16. The cournot model is a model of:
  17. Change in quantity demanded refers to:
  18. The law of demand is most directly a result of:
  19. If the price of product increases and in the result the demand for product B also increases then:
  20. Identify the author of The Affluent Society?
  21. If a straight line supply curve passes through the point of origin O, the elasticity of supply is:
  22. The marshallian demand curve includes:
  23. If in the long run all factor inputs are increased three times and the resulting output is four times…
  24. If the price of Pepsi Cola goes down, you would predict:
  25. Utility means:
  26. The model which gives us information about price and output changes in different periods is:
  27. Marshallian demand function is also known as:
  28. The law of Diminishing Marginal Utility implies that the marginal utility of a good decreases as:
  29. Cross-elasticity of demand or cross-price elasticity between two complements will be:
  30. The factors of production in perfect competition are: