The Long run Average Cost curve (LAC) in modern cost theory is roughly

Related MCQs

• Under increasing returns to scale, which of the following is the nature of the long run average cost curve?
• 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
• The saucer-type of modern Short run Average Variable Cost (SAVC) represents
• If you know that with 8 units of output, average fixed cost is Rs. 12.50 and average variable cost is Rs. 81.25, then total cost at this output level is:
• If the long run cost curve shifts down wards it is an indication of
• The U shape of the average total cost curve reflects
• The U shape of the LAC reflects
• Which one of the following is roughly equal to national income?
• If the short-run average variable costs of production for a firm are rising, then this indicates that:
• If a firm’s average cost is Rs.32 at 6 units of output and Rs.34 at 7 unit, which one among the following is the marginal cost of producing the 7th unit