Multiple Choice
If the long run average cost curve for a typical firm in an industry is downward sloping to the right it becomes difficult to sustain the assumption of
A) Diminishing returns
B) Perfect competition
C) Ceteris paribus
D) Rising marginal costs in the short run
Correct Answer:
Verified
Correct Answer:
Verified
Q1: Theory of demand examines the behaviour of
Q2: Change in demand due to a change
Q3: Measurable utility is the postulate of:<br>A)Neo-Classical school<br>B)Ordinalist
Q4: The convexity of an indifference curve shows:<br>A)Diminishing
Q5: Which of the following is Gossen's first
Q7: In the case of a free good,
Q8: A movement from one point to another
Q9: An Indifference Curve to the right of
Q10: As moving from left to right through
Q11: Which of the following is a cardinalist