The U shape of the average total cost curve reflects
The U shape of the average total cost curve reflects
| Note: | The above multiple-choice question is for all general and Competitive Exams in India. |
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Suppose a firm sells its product at a price lower than the opportunity cost of the inputs used to produce it. Which is true?
Question: Suppose a firm sells its product at a price lower than the opportunity cost of the inputs used to produce it. Which is true?
A. The firm will earn accounting and economic profits. B. The firm will face accounting and economic losses. C. The firm will face an accounting loss, but earn economic profits. D. The firm may earn accounting profits, but will face economic losses. Answer» d. The firm may earn accounting profits, but will face economic losses. Note: The above multiple-choice question is for all general and Competitive Exams in India. An increase in output in a perfectly competitive and constant cost industry which is in longrun equilibrium will come
Question: An increase in output in a perfectly competitive and constant cost industry which is in longrun equilibrium will come
A. entirely from new firms B. entirely from existing firms C. either entirely from new firms or entirely from existing firms D. partly from new firms and partly from existing firms. Answer» a. entirely from new firms Note: The above multiple-choice question is for all general and Competitive Exams in India. A profit-maximizing monopoly firm with a demand curve P = 50 − Q is a perfect pricediscriminator. If it has marginal costs of Rs. 10/unit and fixed costs of Rs. 30, it will produce_____ units of output and will make______ profit.
Question: A profit-maximizing monopoly firm with a demand curve P = 50 − Q is a perfect pricediscriminator. If it has marginal costs of Rs. 10/unit and fixed costs of Rs. 30, it will produce_____ units of output and will make______ profit.
A. 40; Rs. 400 B. 40; Rs. 770 C. 20; Rs. 370 D. 20; Rs. 400 Answer» b. 40; Rs. 770 Note: The above multiple-choice question is for all general and Competitive Exams in India. Square of standard deviation of a distribution is the
Question: Square of standard deviation of a distribution is the
A. median B. variance C. mode D. none of these Answer» b. variance Note: The above multiple-choice question is for all general and Competitive Exams in India. Which of the following results in an increase in an increase in demand:
Question: Which of the following results in an increase in an increase in demand:
A. Fall in prices of substitutes B. Increase in price of complementary goods C. Fall in consumer’s income D. None of the above Answer» d. None of the above Note: The above multiple-choice question is for all general and Competitive Exams in India. A firm should always continue to operate at a loss in the short run if:
Question: A firm should always continue to operate at a loss in the short run if:
A. the firm will show a profit. B. the owner enjoys helping her customers. C. it can cover its variable costs and some of its fixed costs. D. the firm cannot produce any other products more profitably. Answer» c. it can cover its variable costs and some of its fixed costs. Note: The above multiple-choice question is for all general and Competitive Exams in India.