Change in quantity supplied of a product can result from:
Change in quantity supplied of a product can result from:
| Note: | The above multiple-choice question is for all general and Competitive Exams in India. |
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The reason the marginal cost curve eventually increases as output increases for the typical firm is because:
Question: The reason the marginal cost curve eventually increases as output increases for the typical firm is because:
A. Of diseconomies of scale. B. Of minimum efficient scale. C. Of the law of diminishing returns. D. Normal profit exceeds economic profit. Answer» c. Of the law of diminishing returns. Note: The above multiple-choice question is for all general and Competitive Exams in India. The points at which a curve is neither increasing not decreasing is called
Question: The points at which a curve is neither increasing not decreasing is called
A. turning point B. stationery points C. both a and b D. none of these Answer» c. both a and b Note: The above multiple-choice question is for all general and Competitive Exams in India. The price of a commodity under the perfect competition isdetermined by:
Question: The price of a commodity under the perfect competition isdetermined by:
A. Buyer B. Seller C. Firm D. Market forces Answer» d. Market forces Note: The above multiple-choice question is for all general and Competitive Exams in India. Which is true of normal profits
Question: Which is true of normal profits
A. they are necessary to keep a firm in the industry in the long run. B. they are zero under pure competition in the long run. C. they are excluded from a firm\s costs of production. D. they are greater than the opportunity cost to the firm. Answer» a. they are necessary to keep a firm in the industry in the long run. Note: The above multiple-choice question is for all general and Competitive Exams in India. Which one is not the test of index Number
Question: Which one is not the test of index Number
A. unit test B. time reversal test C. triangular test D. factor reversal test Answer» c. triangular test Note: The above multiple-choice question is for all general and Competitive Exams in India. When the perfectly competitive firm and industry are both in long-run equilibrium
Question: When the perfectly competitive firm and industry are both in long-run equilibrium
A. P = MR = SMC = LMC B. P = MR = SAC = LAC \\ C. P = MR = lowest point on the LAC curve D. all of the above. Answer» d. all of the above. Note: The above multiple-choice question is for all general and Competitive Exams in India.