Which is the first-order condition for the profit of a firm to be maximum?





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  1. Which of the following is assumed to be constant when drawing a demand curve?
  2. Moving along the indifference curve leaves the consumer:
  3. Price leadership is associated with:
  4. To calculate the Economic Profit we must deduct which of the following cost from our total revenues?
  5. In case of monopoly, both AR and MR fall, but MR falls:
  6. In case of monopoly, the slope of MR is:
  7. The sufficient condition of firms equilibrium requires:
  8. Which of the following is not characteristic of perfect competition?
  9. In the case of substitutes, the cross demand curve slopes
  10. Which of the following is not a feature of isoproduct curves?
  11. The average product is given as:
  12. If the price of Pepsi Cola goes down, you would predict:
  13. The Latin term citeris paribus means:
  14. The firm is said to be in equilibrium when the difference between revenue and cost is:
  15. In the case of an inferior commodity, the income-elasticity of demand is:
  16. Normal profits are considered as:
  17. The competitive equilibrium leads to:
  18. Total Utility (TU) curve:
  19. For a commodity giving large consumers surplus, the demand will be:
  20. Diseconomies of management lead to:
  21. Chamberline introduces the concept of:
  22. When was Adam Smiths major work An Enquiry into the Nature and Causes of Wealth of Nations published?
  23. If X and Y are close substitutes, a fall in price of X will lead to:
  24. The Chamberline model recognizes mutual:
  25. The number of sellers in duopoly is:
  26. The difference between accounting profits and economic profits is:
  27. Which of the following formula determine the income elasticity of demand?:
  28. The budget-line is also known as the:
  29. The advertisement and other selling activities:
  30. When at a given price, the quantity demanded of a commodity is more than the quantity supplied, there…