Total production will be maximum when
A. | Marginal production is maximum |
B. | Average production is maximum |
C. | Marginal production is zero |
D. |
Average production is equal to the marginal production
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Option: C Explanation : Click on Discuss to view users comments. |
A. | Perfect competition |
B. | Monopolistic competition |
C. | Monopoly |
D. | Oligopoly |
Option: C Explanation : Click on Discuss to view users comments. |
A. | Normal profit |
B. | Supernormal profits |
C. | Production |
D. | Costs |
Option: B Explanation : Click on Discuss to view users comments. |
A. | Perfectly elastic |
B. | Unit elastic |
C. | Perfectly inelastic |
D. | Highly elastic |
Option: B Explanation : Click on Discuss to view users comments. |
Which of the following is a correct statement
A. |
Decrease in input prices causes a left word shift in the supply curve
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B. |
The desire for a commodity backed by ability and willingness to pay is demanded.
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C. |
When income increases demand for essential good increase, more than proportionately.
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D. |
The demand for a commodity is inversely related to the price of its substitutes.
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Option: B Explanation : Click on Discuss to view users comments. |