Economics - Study Mode
[#1046] Marginal cost is equal to marginal revenue, average cost is equal to average revenue, average revenue is equal to marginal revenue and average cost is equal to marginal cost. This is the condition of 1. long period equilibrium for a firm under monopoly 2. short period equilibrium for a firm under oligopoly 3. long period equilibrium 4. long period equilibrium for a firm under perfect competitions Select the correct answer
Correct Answer
(B) Both 3 and 4
[#1047] If the demand is absolutely/perfectly inelastic, then the demand for the good increases by 15% in the price
Correct Answer
(D) No increase or decrease
[#1048] In economics, 'the central economic problem' means that:
Correct Answer
(D) Output is restricted to limited availability in an optimum way
[#1049] Which one of the following is a part of short term loan?
Correct Answer
(B) Bank overdraft
[#1050] Maximization of firm's growth rate subject to managerial and financial constraints' as one of the important alternative objectives of especially large business corporation was pleaded by:
Correct Answer
(B) Robin Marris