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Q. Due to the operation of ‘Laws of return to Scale’ LAC curve is

Q. __________ account can be opened by business persons only.

Q. The Law of Diminishing Marginal Utility was developed by ____________

Q. The AR curve and industry demand curve are identical

Q. ______ means the desire backed by the necessary purchasing power.

Q. As output increases, AFC of a firm

Q. The additional cost incurred to produce an additional unit of output is _______

Q. Let a firm employs 10 labourers to produce 150 units of output. If 11 labourers are employed to produce 166 units of output, then the marginal product is

Q. The concept of ‘Consumer Surplus’ was introduced in Economics by