Isoquant refers to
A. | An equal quantity curve of a consumer |
B. | The production indifference curve |
C. | Another name of indifference curve |
D. | An equal cost curve of a producer |
Option: B Explanation : Click on Discuss to view users comments. |
Under the perfect competition, the transportation cost
A. | Is considered to be negligible and thus, ignored |
B. | Is charged along with the price of the commodity |
C. | Is considered to be vital for the calculation of total cost |
D. | Excluded from the prime cost |
Option: A Explanation : Click on Discuss to view users comments. |
If a demand curve exhibits unit elasticity for all prices, the MR curve
A. | Is identical with it |
B. | Lies below the demand curve |
C. | Is identical with the X-axis |
D. | Is identical with the Y-axis |
Option: C Explanation : Click on Discuss to view users comments. |