A. the MR and MC curves
B. the AC and AR curves
C. the AC and MC curves
D. the MR and AR curves
Related Mcqs:
- A firm in perfectly competitive industry is producing 50 units, its profit-maximising quantity. Industry price is £2 and total fixed costs and total variable cost are £25 and £40 respectively. The firm’s economic profit is ?
A. £35
B. £15
C. £30
D. £60 - A firm that makes profit in addition to normal profit is making ?
A. Economic profit
B. Accounting profit
C. Normal profit
D. supernormal profit - A straight-line diagram can be drawn knowing the ________ and ________?
A. vertical axis and horizontal axis
B. intercept and slope
C. scale and slope
D. intercept and scale - If the diagram of a line shows that lower values on the vertical scale are associated with higher values on the horizontal scale this is an example of ?
A. a nonlinear relationship
B. a positive linear relationship
C. a scatter diagrams
D. a negative linear relationship - The diagram that shows the income received and payments made by each sector of the economy is the ?
A. income-expenditures diagram
B. aggregate demand-aggregate supply diagram
C. circular flow diagram
D. income-price diagram - In a supply and demand diagram for Japanese yen, with the exchange rate in dollars per yen on the vertical axis, the demand schedule for yen is drawn sloping ?
A. upward
B. vertical
C. downward
D. horizontal - Which of the following statements regarding the circular-flow diagram is true ?
A. If Susan works for BAe Systems and receives a salary payment, the transaction takes place in the market for good and services.
B. If BAe Systems sells a military aircraft, the transaction takes place in the market for factors for production
C. None of these
D. The factors of production are owned by households - Income inequalities are often shown on a ?
A. production possibility curve
B. marginal inequality curve
C. sen curve
D. Lorenz curve - As resources are shifted from one industry to another this can be shown by ?
A. An inward shift of the production possibility frontier
B. A movement along the production possibility frontier
C. An outward shift of the production possibility frontier
D. The pivoting of the production possibility frontier - Economic growth can be shown by ?
A. An inward shift of the production possibility frontier
B. A movement along the production possibility frontier
C. An outward shift of the production possibility frontier
D. A decision by the government to produce inside the production possibility frontier
