In short run a monopolistic competition firm will be in equilibrium where (a) MR = curve intersect SMC curve from above (b) MR curve intersect SMC curve from below (c) MC = AR ; (d) MR curve intersect SMC from below and P is equal to or more than AVC Answer : ; (d) MR curve intersect SMC from below and P is equal to or more than AVC...
.All of the following curves are U-shaped, except the (a) AFC curve (b) MC curve © AC curve (d) AVC curve Answer : (a) AFC curve...
Which of the following are not characteristics of Keynesian consumption function? (a) The main influence on consumption in the short run is current disposable income (b) The marginal ... consume decreases as income increases (d) The average propensity to consume increases as income increases Answer : d) The average propensity to consume increases as income increases...
In the short run, diminishing marginal returns is implied by (a) Rising MC ; (b) Falling MC ; (c) Rising AVC ; (d) Constant TC Answer : (a) Rising MC ;...
The long run average cost curve envelops (a) all short run average cost curves (b) all short run average variable cost curves © all short run marginal cost curves (d) none of the above.
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