A. Horizontal
B. Vertical
C. Downward Sloping
D. Upward Sloping
Submitted by: OWAIS SALEEM
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A firm that makes profit in addition to normal profit is making ?
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An upward shift in marginal cost _____ output and an upward shift in marginal revenue ______ output?
A. Economic profit
B. Accounting profit
C. Normal profit
D. supernormal profit
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Marginal revenue is the ________ when output is __________?
A. reduces; reduces
B. reduces; increases
C. increases; increases
D. increases; reduces
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Firms are assumed to ________ costs and to ________ profits?
A. Change in average revenue, increased
B. Change in total revenue, increase by one unit
C. change in average revenue, increased by one unit
D. change in total revenue increased
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The extra utility from consuming one more unit of a good is called ?
A. incur, desire
B. pay, make
C. charge earns
D. minimize, maximize
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The opportunity cost of a student is____________?
A. Marginal utility
B. Additional utility
C. Surplus utility
D. Bonus utility
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If your income doubles and the prices of the goods you buy double then your demand for these goods will likely?
A. Course fees and rent
B. A loan from the bank
C. What the student could have earned in the best job available by not studying
D. What the student will earn after graduation
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A measurement showing how quantity demanded varies with income is the ?
A. increase
B. not change
C. decrease
D. shift