Excess capacity is not found under
A). Monopoly
B). Monopolistic competition
C). Perfect competition
D). Oligopoly
_____ is an implicit cost of production
A). Wages of the labour
B). Charges for electricity
C). Interest on owned money capital
D). Payment for raw material
The law of variable proportions come into being when
A). There are only two variable factors
B). There is a fixed factor and a variable factor
C). All factors are variable
D). Variable factors yield less
When the price of a substitute of X commodity falls, the demand for X
A). Rises
B). Falls
C). Remains unchanged
D). Any of the above
The AR curve and industry demand curve are same in case of
A). Monopoly
B). Oligopoly
C). Perfect competition
D). None of the above