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When average cost is falling marginal cost is ________ and when average cost is rising marginal cost is?
Hamad Costs , Supply And Perfect Competition 28/03/2023
A. greater than average cost, greater than average cost
B. less than average cost, greater than average cost
C. less than average cost, less than average cost
D. greater than average cost, less than average cost
- In the short run firms in perfect competition will still produce provided ?
- A. The price covers average variable cost B. The price covers variable cost C. The price covers average fixed cost D. The price covers fixed costs...
- In monopolistic competition firms profit maximize where ?
- A. Marginal revenue = Average revenue B. Marginal revenue = Marginal cost C. Marginal revenue = Average cost D. Marginal revenue = Total cost...
- For perfect competition to work there must be ?
- A. many buyers and sellers B. a standard product C. free entry and exit D. perfect information E. all of the above...
- In the short run, the competitive firm’s supply curve is the portion of the marginal cost curve that lies above the average variable cost curve?
- A. Upward-sloping portion of the average total cost curve B. upward-sloping portion of the average variable cost curve C. portion of the marginal cost curve that lies above the average total cost curve. D. entire marginal cost curve. E. portion of the marginal-cost curve that lies above the average variable cost curve...
- In the short run a firm will produce zero output if ?
- A. price is greater than short run average total cost B. price is between short run average total cost and short run average variable cost C. price is less than short run average variable cost D. profit is zero...
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