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Which one of the following is also known as Plant Curves:

A. Long-run average cost (LAC) curves

B. Short-run average cost (SAC) curves

C. Average variable cost (AVC) curves

D. Average total cost (ATC) curves

Correct Answer : B.


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  1. Supply of commodity is a:
  2. The line from the origin to a point on an isoquant shows:
  3. The nominal income of a consumer is income in terms of:
  4. At low prices, demand is likely to be:
  5. An indifferent curve shows:
  6. The optimum level of output in long run takes place where:
  7. Who is the author of Problems of Capital Formation in Underdeveloped Countries?
  8. In respect of which of the following category of goods is consumers surplus highest?
  9. In the theory of firm, Chamberline presented the idea of:
  10. To get more revenue, a Finance Minister impose tax on that commodity which has:
  11. A market demand schedule is obtained by adding individual demand schedules:
  12. If the commodity is inferior then the increase in income of the consumer results in:
  13. Who wrote An Introduction to Positive Economics?
  14. The kinked demand curve comes into being where:
  15. Equilibrium of a discriminating monopolist requires the fulfillment of which one of the following conditions?
  16. If the commodity is normal then the Income Effect (I.E) and the Substitution Effect (S.E):
  17. When price increases and with it the total outlay on a commodity also increases, it is a case of:
  18. If regardless of changes in its price, the quantity demanded of a commodity remains unchanged, then…
  19. With which of the following concepts is the name of J.M.Keynes particularly associated?
  20. The concept of industry in monopolistic competition has been replaced by:
  21. With firms having cost differences under perfect competition, a firm, which earns normal profit in the…
  22. The name of the system of direct exchange is:
  23. If a ten percent increase in price causes a ten percent reduction in quantity demanded, elasticity of…
  24. The cobweb model will divergent when the slope of:
  25. The market demand for any commodity is the:
  26. In perfect cartel, the:
  27. The consumer is in equilibrium at the where:
  28. The Strategy of Economic Development is the work of:
  29. The reserve capacity in administration is advocated on the ground that demand for a product will:
  30. If less is demanded at the same price or same quantity demanded at a lower price, it is a case of: