form of the market structure is the degree of control over the price of its
product by a firm very large?
revenue curve is also known as:
unemployment in India exists in
Intensive Agriculture District Programme (IADP) was started in
that the demand curve for the ABC Co. slopes downward and to the right. We can
operates in a perfectly competitive market.
can sell all that it wants to at the established market price.
Co. is not a price taker in the market because it must lower price to sell
additional units of output.
Co. will not be able to maximize profits because price and revenue are subject
in the shoes industry have the following
market shares, which market structure would best describe the industry?
sector is the backbone of Indian economy?
kinked demand curve model of oligopoly assumes that
response to a price increase is less than the response to a price decrease.
response to a price increase is more than the response to a price decrease.
elasticity of demand is constant regardless of whether price increases or
elasticity of demand is perfectly elastic if price increases and perfectly
inelastic if price decreases.
terms of economics, the total value of the output (goods and services) produced
and income received in a year by a domestic resident of a country put together
Gross National Product
Gross National Income
encounters its “shutdown point” when:
total cost equals price at the profit-maximising level of output.
variable cost equals price at the profit-maximising level of output.
fixed cost equals price at the profit-maximising level of output.
cost equals price at the profit-maximising level of output.
that, at the profit-maximizing level of output, a firm finds that market price
is less than average total cost, but greater than average variable cost. Which
of the following statements is correct?
should shutdown in order to minimize its losses.
should raise its price enough to cover its losses.
should move its resources to another industry.
should continue to operate in the short run in order to minimize its losses
of the following is definitely a major indication of the state of the economy
of a country?
of GDP growth
Number of banks in a country
price is less than average variable cost at the profit-maximising level of
output, a firm should:
where marginal revenue equals marginal cost if it is operating in the short
where marginal revenue equals marginal cost if it is operating is the long run.
since it will lose nothing in that case.
since it cannot even cover its variable costs if it stays in business.