At the point of inflexion, the marginal utility is
A. | Negative |
B. | Decreasing |
C. | Maximum |
D. | Increasing |
Option: C Explanation : Click on Discuss to view users comments. |
The point on which the average cost is minimum in a firm short-run average cost curve will also be the minimum cost point on the firm's long run average cost curve. This is true
A. | When LAC is falling |
B. | Never |
C. | Always |
D. | Only at that level of output when LAC is at its minimum |
Option: D Explanation : Click on Discuss to view users comments. |
Which form of monopoly regulation is most advantageous for the consumer?
A. | Price control |
B. | Lump sum tax |
C. | Per unit tax |
D. | All of the above three forms are equally advantageous |
Option: A Explanation : Click on Discuss to view users comments. |