Who stated explicitly for the first time the Law of Camparative Costs?

A. David Ricardo

B. Adam Smith

C. James Mill

D. A.C.Pigou

Please do not use chat terms. Example: avoid using "grt" instead of "great".

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  1. Pure monopoly exists:
  2. If the demand for good is less elastic and government levied a tax per unit of output, the price per…
  3. Of the following, which one corresponds to fixed cost?
  4. The modern cost curves are based upon the idea of:
  5. The concept of period refers to:
  6. If a monopolist is producing under decreasing cost conditions, increase in demand is beneficial to the…
  7. Elasticity (E) expressed by the term, 1>E>0, is:
  8. An increase in the supply of a commodity is caused by:
  9. The game theory is concerned with:
  10. According to the principle of substitution?
  11. If the commodity is inferior then:
  12. Price is measured in:
  13. In monopoly and perfect competition, TC curves are:
  14. Income -elasticity of demand will be zero when a given change in income brings about:
  15. If the commodity is inferior then the increase in income of the consumer results in:
  16. Indifference curve approach (ordinal approach) is superior to utility approach (cardinal approach) because:
  17. Under monopoly and imperfect competition MC is:
  18. The long run average cost curve is:
  19. The basic subject matter of economics is:
  20. Formulation of an economic theory involves:
  21. The demand of the necessities is:
  22. The relationship between MC and MP shown by the marginal cost concept is:
  23. If in the long run all factor inputs are increased three times and the resulting output is four times…
  24. Average Revenue means:
  25. The partial equilibrium model keeps other things:
  26. When the consumer is in equilibrium not only his income is fully spent, but the ratio of marginal utility…
  27. A budget line shows:
  28. Each SAC represents a particular level of:
  29. In 1776, a famous book An enquiry into the nature and causes of the wealth of nation was written by:
  30. The firms in non-cooperative games: