Multiple Choice
Which cost is to be incurred by a firm even if output is zero:
A) Opportunity cost
B) Fixed cost
C) Variable Cost
D) Total cost
Correct Answer:
Verified
Correct Answer:
Verified
Q2: The change in demand is due to
Q3: The Scarcity definition of Economics is the
Q4: The demand curve for Giffen's goods:<br>A)Vertical<br>B)Horizontal<br>C)Negative slope<br>D)Positive
Q5: Indifference Approach is related with:<br>A)Marshall<br>B)J.R. Hicks<br>C)Samuelson<br>D)Sismondi
Q6: Total Revenue is the maximum when Marginal
Q8: Which one of the following is an
Q9: For complementary goods, the cross elasticity of
Q10: The marginal utility theory is contributed by:<br>A)Marshall<br>B)David
Q11: The Wealth of Nations is the work
Q12: Market economy is also known as:<br>A)Socialist economy<br>B)Capitalist