When a monopolist is in
| A. | Long-run equilibrium, he may or may not be in short-run equilibrium |
| B. | Long-run equilibrium, he will also be in short-run equilibrium |
| C. | Short-run equilibrium, he will also be in long-run equilibrium |
| D. | None of the above |
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Option: B Explanation : Click on Discuss to view users comments. |
An indifference curve is always
| A. | A vertical straight line |
| B. | Convex to the origin |
| C. | Concave to the origin |
| D. | A horizontal straight line |
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Option: B Explanation : Click on Discuss to view users comments. |
Other things remaining the same, when a consumer's income increases, his equilibrium point moves to
| A. | A higher indifference curve |
| B. | Moves to the left-hand side on the same indifference curve |
| C. | Remains unchanged on the same indifference curve |
| D. | A lower indifference curve |
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Option: A Explanation : Click on Discuss to view users comments. |
