The MC curve cuts the AVC and ATC curves
A. | At different points |
B. | At the falling parts of each |
C. | At their respective minimal |
D. | At the rising parts of each |
Option: C Explanation : Click on Discuss to view users comments. |
The law of equi-marginal utility states
A. | MUx/Px > MUy/Py > MUz/Pz > MUm |
B. | MUx/Px = MUy/Py = MUz/Pz = MUm |
C. | MUx • Px = MUy • Py = MUz • Pz |
D. | MUx/Px < MUy/Py < MUz/Pz < MUm |
Option: B Explanation : Click on Discuss to view users comments. |
The optimal output decision
A. | minimizes the average cost of production. |
B. | minimizes the marginal cost of production. |
C. | minimizes production costs. |
D. | is most consistent with managerial objectives. |
Option: D Explanation : Click on Discuss to view users comments. |
Which of the following occupations should be included under the heading of "Primary production"?
(1) Quarrying (2) Fishing
(3) Farming (4) Coal mining
A. | 1 and 3 |
B. | 1 and 2 |
C. | 1 only |
D. | 1, 2, 3 and 4 |
Option: D Explanation : Click on Discuss to view users comments. |
If, by increasing the quantity of labour used by one unit, the firm can give up 2 units of capital and still produce the same output, then the MRTSLK is:
A. | 4 |
B. | 2 |
C. | 1 |
D. | 1/2 |
Option: B Explanation : Click on Discuss to view users comments. banriline kharjana said: (6:18pm on Monday 28th May 2018)
how is the calculation for this question
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