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
Q2: Marginal costs and average variable costs are
Q3: Theory of demand examines the behaviour of
Q4: Change in utility resulting from one unit
Q5: Saturation point is the point where:
A)TU =
Q6: Measurable utility is the postulate of:
A)Neo-Classical school
B)Ordinalist
Q7: Which of the following is Gossen's first
Q8: In the case of a free good,
Q9: Change in demand due to a change
Q10: The Price and quantity relationship for an
Q11: In the case of normal goods, the
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