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Which of the following is an implicit cost of production?

A. Wages of the labor

B. Charges of electricity

C. Interest on owned money capital

D. Payment for raw materials

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  1. When elasticity of demand is less than one (e
  2. Indifference curves are downward sloping and are drawn bowed toward the origin (convex to the origin)…
  3. According to Robbins, economics is a:
  4. Rent is a creation of value, not of wealth who made this observation?
  5. Decrease in demand results in:
  6. In cournot model, each firm makes decision regarding:
  7. Regarding economic decisions, economics of uncertainty identifies:
  8. Production function relates:
  9. In monopolistic competition, the cost curves of all firms are:
  10. At a point above the middle of a straight line demand curve, elasticity of demand is:
  11. When in a market, the number of buyers is very large and the number of sellers is very small, it is…
  12. In monopoly and perfect competition, TC curves are:
  13. Utility is a function of:
  14. Karl Marx:
  15. If the slope of the isoquant is equal to the slope of isocost, then isoquant is:
  16. Cross-elasticity of demand or cross-price elasticity between two substitutes will be:
  17. The demand of the necessities is:
  18. The number of sellers in oligopoly are:
  19. The law of variable proportions comes into being when:
  20. The demand curve slopes downwards due to:
  21. In measuring price-elasticity:
  22. Supply of commodity is a:
  23. In cournot model, firms sell:
  24. If the commodity is normal then fall in price will result in:
  25. Under conditions of perfect competition, price in the long-run is equal to:
  26. Ordinal approach includes arranging:
  27. Who is the founder of classical school of thought?
  28. In joint-profit maximization cartel, central agency sets the:
  29. Demand of a commodity is elastic when:
  30. The point where the supply and demand curves intersect on a graph determines: