Question 1

Envelope curve is

Accepted Answer

A) long run marginal cost curve 
B) long run average cost curve 
C) total cost curve 
D) none of the above 
A) long run marginal cost curve 
B) long run average cost curve 
C) total cost curve 
D) none of the above

Question 2

MC at any level of output is given by

Accepted Answer

A) slope of tc curve 
B) slope of tvc curve 
C) slope of either tc or tvc 
D) slope of tfc 
A) slope of tc curve 
B) slope of tvc curve 
C) slope of either tc or tvc 
D) slope of tfc

Question 3

If the long run cost curve shifts down wards it is an indication of

Accepted Answer

A) technological progress 
B) lower factor prices 
C) both of these 
D) reserve capacity 
A) technological progress 
B) lower factor prices 
C) both of these 
D) reserve capacity

Question 4

The Long run Average Cost curve (LAC) in modern cost theory is roughly

Accepted Answer

A) u shaped 
B) saucer shaped 
C) l shaped 
D) rectangular hyperbola 
A) u shaped 
B) saucer shaped 
C) l shaped 
D) rectangular hyperbola

Question 5

The U shape of the average total cost curve reflects

Accepted Answer

A) ldmu 
B) the law of variable proportions 
C) consumer's surplus 
D) reserve capacity 
A) ldmu 
B) the law of variable proportions 
C) consumer's surplus 
D) reserve capacity

Envelope curve is

MC at any level of output is given by

If the long run cost curve shifts down wards it is an indication of

The Long run Average Cost curve (LAC) in modern cost theory is roughly

The U shape of the average total cost curve reflects

Consumer Theory and Utility

Indifference Curve Analysis and Consumer Theory

Classical Economic Theory

Macroeconomic Theory and Models

Macroeconomic Equilibrium and Concepts

Keynesian Economics and Related Concepts

National Income and Keynesian Economics

Economics and Economic Theory

Economic Concepts and Theories

Macroeconomics and Economic Theories

Economics and Economic Methods

Economics and Social Science

Production and Costs

Demand Analysis and Utility Theory

Indifference Curves, Ordering, Wealth of Nations, and More

Economics Questions on Demand and Supply

Elasticity of Supply and Demand

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Exam 3: Cost Theory and Production Possibility Curve Analysis

Envelope curve is

MC at any level of output is given by

If the long run cost curve shifts down wards it is an indication of

The Long run Average Cost curve (LAC) in modern cost theory is roughly

The U shape of the average total cost curve reflects

Consumer Theory and Utility

Indifference Curve Analysis and Consumer Theory

Classical Economic Theory

Macroeconomic Theory and Models

Macroeconomic Equilibrium and Concepts

Keynesian Economics and Related Concepts

National Income and Keynesian Economics

Economics and Economic Theory

Economic Concepts and Theories

Macroeconomics and Economic Theories

Economics and Economic Methods

Economics and Social Science

Production and Costs

Demand Analysis and Utility Theory

Indifference Curves, Ordering, Wealth of Nations, and More

Economics Questions on Demand and Supply

Elasticity of Supply and Demand

Filters