Average cost
Marginal cost
Fixed cost
Variable cost
D. Variable cost
Isoquant line
Isocost line
Indifference curve
Price line
The slope of the TVC curve
The slope of the TVC curve but not the slope of the TC curve
The slope of the TC curve but not by the slope of the TVC curve
Either the slope of the TVC curve or the slope of the TC curve
Imperfect substitutes
Perfect substitutes
Complements
None of the above
Rising cost
Falling cost
Rising input
Falling input
1/2 of the total market demand
1/4 of the total market demand
1/3 of the total market demand
None of the above
A and B are substitute goods
A and B are complementary goods
A is an inferior good
B is an inferior good
Maximization of losses
Minimization of losses
Minimization of profits
None of the above
The change in price
The change in supply
The percentage change in supply
The percentage change in price
With using indifference curves
With using MRS
Without using indifference curve
None of the above
output
input
price
advertisement
Is a disequilibrium price
Is an equilibrium price
Means a shortage exists as a market is cleared
Must be set by the government
Demand curve is more than supply curve
Supply curve is more than demand curve
Supply curve is equal to demand curve
None of the above
Average fixed cost increases sharply
More production yields lower per unit price
The law of variable proportions applies to short run production
Sales expenses become much larger
MR=ATC
P=ATC
P=MC
P=AC
There is tendency for firms to enter but not leave the industry
Firms have no tendency either to enter or to leave the industry
Some firms may enter while the others may leave the market even after the equilibrium of the industry
Entry or exit of the firms cannot be predicted
Firms and industry price
Monopoly and duopoly price
Competitive and monopoly price
None of the above
Marginal cost
Production cost
Labor cost
Supply cost
Sets of points relating production function that maximizes output given input (labor) i.e. Q = f(L, K)
Sets of points relating production function that produces less output than possible for a given set of input (labor) i.e. Q < f(L, K)
Use of imported technology
None of the above
Freedom and Reform
The Green Revolution
Economic Integration
Risk ,Uncertainty and Profit
Contraction of demand
Decrease in demand
Increase in demand
Extension of demand
degree one
degree zero
degree less than one
degree greater than one
Complements
Close substitutes
Both a and b
None of the above
The substitution effect is more certain
The income effect is more certain
The substitution effect is uncertain
The income effect is always positive
Constant rate
Decreasing rate
Increasing rate
None of the above
Allocation of resources of the economy as between production of different goods and services
Determination of prices of goods and services
Behavior of industrial decision makers
All of the above
Advertising
His low LAC
Blocked entry
High price he charges
Marginal cost curve
Average variable cost curve
That part of the marginal cost curve which equals or is greater than AVC
Average total cost curve
Demand curve is more than supply curve
Supply curve is more than demand curve
Supply curve is equal to demand curve
None of the above
Greater than one
Equal to one
Less than one but more than zero
None of the above
MR = MC
MR > MC
MR < MC
P < AC