Which is the other name that is given to the average revenue curve?
Profit curve
Demand curve
Average cost curve
Indifference curve
Correct Answer :
B. Demand curve
Related Questions
An income demand curve of an inferior good is:
Upward sloping
Downward sloping
Constant in slope
None of the above
Iso-product curve (isoquant) shows:
A given quantity of output that can be produced by various combinations of two inputs
Varying quantities of output that can be produced by the same combination of two factors
Combination of two factors that can give the least cost of production
Combination of two goods that cost the same amount to the producer
Under monopoly and imperfect competition MC is:
More than the price
Less than the price
Equal to the price
Less than or equal to the price
In the short-run, in which one of the following situations would a competitive seller close down (shut-down)?
When he cannot produce at an economic profit
When price falls short of average variable cost at every level of output
When price falls short of average fixed cost at every level of output
When price falls short of average total cost at every level of output
The marginal revenues are derivatives of:
TR function
AR function
MR function
AP function
When there is decrease in demand the demand curve:
Moves (shifts) towards the axis
Moves (shifts) away from the axis
Remains unchanged
All of the above
The study of economic theory for the sake of certain objective is called:
Positive Economics
Normative Economics
Micro Economics
Development Economics
The spending of money by the producer to influence consumers is an example of:
Derived demand
Joint demand
Demand creation
Compressed demand
The standard form of demand function is:
Q = a- bP
Y = a- bP
Q = a+ bP
Which of the following is not an explicit cost of production?
Wage of self-employed proprietor
Depreciation on machinery
Returns on owned capital
Cost of raw materials
The giffen paradox is an exception to law of:
Supply
Demand
Production
Consumption
If by doubling all inputs in the long run output is less than double, it is a case of:
Increasing returns to scale
Decreasing returns to scale
Constant returns to scale
Variable returns to scale
The basic and essential economic problems in a community are related to choice and:
Freedom
Scarcity
Social class
Politics
When a consumer reached at the point of saturation then marginal utility (MU) is:
Negative
One
Positive
Zero
A demand curve is not related to:
The price of the commodity
The time period
The price of substitutes
Any of the above
Nash equilibrium is applicable in case of:
Cournot model
Edgeworth model
Chamberline model
Sweezy model
The main contribution of Prof.Robbins is in the field of:
human welfare
national income
multiplicity of wants and scarcity of resources
theory of production
At a point where a straight line demand curve meets the price axis (Y-axis), the elasticity of demand is:
Equal to one
Less than one
Equal to zero
Equal to infinite
In monopoly, new firms:
Can enter and exit
Partially can enter and exit
Cannot enter
None of the above
The demand curve in monopolistic competition (also in kinked demand curve model), which shows the share of a firm in market is called:
Relative demand curve
Proportional demand curve
Productive demand curve
Differential demand curve
At the point where a straight line demand curve meets the quantity axis (x-axis), elasticity of demand is:
Equal to zero
Equal to one
Equal to infinite
More than one
In monopolistic competition, the customers are attached with one product because of:
Product similarity
Product differentiations
Product inferiority
None of the above
At low prices, demand is likely to be:
More elastic
Less elastic
Unit elastic
Perfectly inelastic
Marginal cost is always:
Less than the average cost
More than the average cost
Equal to the average cost at minimum point
Never equal to the average cost
Microeconomics is also known as:
Price theory
Demand theory
Supply theory
Income theory
Suppose income increases by 10% and demand for commodity increases by 5% then the income elasticity of demand is:
Negative
Positive
Zero
Infinity
The least cost combination of factors x , y and z will generally be the point at which:
Price of x = Price of z Price of y Price of x
MP of x = MP of y Price of x Price of x
MP of x = MP of y = MP of z Price of x Price of y Price of z
MP of x = MP of y = MP of z
Some economists refer to iso-product curves as:
Engels curve
Production indifference curve
Budget line
Ridge line
Under the law of variable proportions, the average and the marginal product of the variable factor would ultimately:
Become equal
Decrease
Become constant
Increase
The vertical demand curve for a commodity shows that its demand is:
Highly elastic
Perfectly inelastic
Fairly elastic
Moderately elastic