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Q. The law of diminishing returns only applies in cases where:

Q. As If a few large firms dominate an industry the market is known as:

Q. If a more efficient technology was discovered by a firm, there would be:

Q. In general, a flatter demand curve is more likely to be:

Q. Which of the following is an example of strategic behaviour?

Q. An isoquant is ______ to an iso cost line at equilibrium point:

Q. 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:

Q. The reason the marginal cost curve eventually increases as output increases for the typical firm is because:

Q. In game theory, the outcome or consequence of a strategy is referred to as the

Q. A game that involves multiple moves in a series of identical situations is called a