91. The prime cost may be considered as
92. The point on which the average cost is minimum in a firm short-run average cost curve will also be the minimum cost point on the firm's long run average cost curve. This is true
93. The price of Rs. 20 has a demand of 500 units. If the price falls to Rs. 15 and the quantity demanded increases to 600 units, calculate the arc of elasticity.
94. Professor J. Robinson measured monopoly power in terms of
95. Which of the following statement is correct about inflation?
96. The difference between monopoly equilibrium and competitive equilibrium is
97. The slope of the Iso-cost line is determined by
98. Match the following:
a. Increasing cost industry
1. Horizontal long run supply curve
b. Decreasing cost industry
2. Positively sloped long run supply curve
c. Constant cost industry
3. Negatively sloped long run supply curve
| a. Increasing cost industry | 1. Horizontal long run supply curve |
| b. Decreasing cost industry | 2. Positively sloped long run supply curve |
| c. Constant cost industry | 3. Negatively sloped long run supply curve |
99. An increase in a firm's fixed costs will
100. Income elasticity of demand will be zero when a given change in income brings about
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