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Marginal cost is equal to marginal revenue, average cost is equal to average revenue, average revenue is equal to marginal revenue and average cost is equal to marginal cost. This is the condition of
1. long period equilibrium for a firm under monopoly
2. short period equilibrium for a firm under oligopoly
3. long period equilibrium
4. long period equilibrium for a firm under perfect competitions
Select the correct answer
The marginal cost is equal is to marginal revenue, the average cost is equal to average revenue, average revenue is equal to marginal revenue, and the average cost is equal to marginal cost. This is the condition of
1. Long-period equilibrium for a firm under monopoly.
2. Short-period equilibrium for a firm under oligopoly.
3. Long-period equilibrium
4. Long-period equilibrium for a firm under perfect competition.
In perfect competition, when a firm is in short periods, for equilibrium, the following condition does apply
1. Marginal cost must equal marginal revenue.
2. Average cost must equal average revenue.
3. Marginal revenue must equal average revenue.
4. Marginal cost must equal average cost.
The average of eight batsmen J, K, L, M, N, O, R, and T is compared. The number of batsman having average less than L are same as the number of batsman having average more than M. Average of T is less than M and more than K. Average of L is less than K. Average of two batsman lies between the average of M and L. Average of O is less than N and K both. Which of the following can be the correct sequence of their averages?
When labour is plotted on X-axis and capital is plotted on Y-axis and an iso-quant is prepared, then which of the following statements is/are false ? (a) Marginal rate of technical substitution of labour for capital is equal to the slope of the iso-quant. (b) Marginal rate of technical substitution of labour for capital is equal to change in the units of capital divided by the change in the units of labour. (c) Marginal rate of technical substitution of labour for capital is the ratio of marginal productivity of capital to marginal productivity of labour.
When labour is plotted on X-axis and capital is plotted on Y-axis and an isoquant is prepared, then which of the following statement(s) is/arefalse?
1. Marginal rate of technical substitution of labour for capital is equal to the slope of the iso-quant.
2. Marginal rate of technical substitution of labour for capital is equal to change in the units of capital divided by the change in the units of labour.
3. Marginal rate of technical substitution of labour for capital is the ratio of marginal productivity of capital to marginal productivity of labour.
Questions below followed by three quantities. Find the relationship between them. Quantity I: In a class with a certain number of students if a teacher weighing 78 kg is added, then average weight of class is increased by 2 kg. If one more teacher weighing 66 kg is added, then the average weight of the class increases by 3.5 kg over the original average. What is the original average weight (in kg) of the class? Quantity II: The average age of 16 students and their teacher's age is 16 years. If the teacher's age is excluded, the average reduces by 2. What is the teacher's age? Quantity III: Average weight of three friends A, B and C is 46 kg. Another person D joins the group and now the average is 45 kg. If another person E whose weight is 6 kg more than D, joins the group replacing A, then average weight of B, C, D and E becomes 47 kg. What is the weight of A (in kg)?
If an imperfectly competitive firm is producing a level of output where marginal cost is equal to marginal revenue, marginal revenue is below average variable cost, and the price is equal to the average total cost, then the firm is
The average of 12 number is 70. The average of the first four numbers is 60 while the average of the last five number is \(33\frac{1}{3}\%\) more than the average of the first four numbers. The 6th number is 20 more than the 5th number while the 7th number is 10 more than the 6th number. By what percent is the 6th number more than the 5th number?
Which of the following would help protect interests of marginal groups? A. Make laws such as abolition of untouchability.  B. Formulate specific schemes such as subsidized hostels for students of marginal communities.  C. Provide special scholarships for students from marginal groups.  D. Organize competitions for students of marginal groups to express their views.  Choose the correct option.