41.
Assertion (A) All firms under perfect competition in long run earn only normal profit.
Reason (R) All firms under perfect competition in long run operate at the minimum average cost level.

42.
If college enrolments drop by 10% when textbook prices double; textbook and enrolments are . . . . . . . ., goods and their cross-price elasticity is . . . . . . . .

45.
In which type of market do you have the largest number of firms?

46.
If a firm's revenues just coverall its opportunity costs, then

47.
Decreasing costs of production are due to-

49.
In the indifference curve/budget line diagram, the consumer reaches higher indifference curves when