Economics - Study Mode
[#126] The rent earned by a factor of production is equal to
Correct Answer
(D) The difference between what this factor is currently earning and what this factor can obtain in its next best use
[#127] Which one among the following is not the salient feature of industrial policy since 1991?
Correct Answer
(C) Limited exposure of Indian industry to foreign competition
[#128] Average cost is equal to marginal cost at the point where
Correct Answer
(A) Average cost is the lowest
[#129] When the MC of a monopolist is Rs. 6 and price is Rs. 10, the degree of monopoly will be measured as-
Correct Answer
(A) 0.4
[#130] Efficient allocation of resources to the maximum extent that can be achieved:
Correct Answer
(D) In perfect competition