Curioustab

Home » General Knowledge » Indian Economy

The demand curve facing a perfectly competitive firm is

downward sloping
perfectly inelastic
a concave curve
perfectly elastic

Correct Answer: perfectly elastic

← Previous Question Next Question→

More Questions from Indian Economy

Calculate the economic profit for a firm if it's total revenues are Rs. 35 crores, explicit costs are Rs. 7 crores, and implicit costs are Rs. 10 crores.
Name the first Indian to get Nobel prize in economics.
In 2015, the real rate of interest in a country was 6% and the inflation rate then was 3%. So the nominal rate of interest in 2015 was
A price floor is _____.
If price of an article decreases from Rs 40 to Rs 30, quantity demanded increases from Q1 units to 7500 units. If point elasticity of demand is -1 find Q1?
Micro economics deals with
The minimum price at which I was willing to sell my old TV was Rs 37,000. I quoted Rs 50,000 while selling it, but it sold for Rs 42,000. This transaction generated _____.
__________________ is a good whose quantity demanded decreases when consumer income rises.
If price of an article decreases from Rs P1 to Rs 75, quantity demanded increases from 1000 units to 1200 units. If point elasticity of demand is 3.2 findmP1?

Discussion & Comments

No comments yet. Be the first to comment!

Join Discussion