1- According to Marginal Principle, level should be chosen where:
a) MB = MC
b) MB is not equal to MC
c) MB is greater than MC
d) MC is greater than MB
2- Which of the following demand curve represent the case of “Perfectly Elastic Demand”?
3- Experience of Diminishing Marginal Returns by a firm is possible because:
a) All factors are fixed
b) At least one factors of production is variable.
c) All factors are variable
d)Total cost is increasing
4- A monopolist will maximize its profit, when its:
a)Total revenue is maximum
b)Marginal revenue is maximum
c)Marginal cost is equal to marginal revenue.
d)Total cost is maximum.
5- Oligopoly market with only two firms is called: