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 |
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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 |
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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 |
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Option: C Explanation : Click on Discuss to view users comments. |
