N60
N45
N35
N30
Correct answer is C
No explanation has been provided for this answer.
In a perfect competition, every firm is a price
Maker
Taker
Giver
Bidder
Correct answer is B
No explanation has been provided for this answer.
A characteristic of the average fixed cost is that, it
Rises and falls faster than the marginal cost
Is U-shaped and intersects the price axis
Is always higher than the average variable cost
Falls continuously but is never equal to zero
Correct answer is D
No explanation has been provided for this answer.
One of the characteristics of an imperfect market is the
Large number of buyers and sellers in the market
Awareness of market conditions by buyers
Availability of substitutes
Heterogenetity of products
Correct answer is D
No explanation has been provided for this answer.
The main function of price in the economic system is to
Allocate scarce resources among competing uses
Ensure equitable distribution of income and wealth
Determine the demand for and the supply of goods and services
Remove all the constraints on production of goods and services
Correct answer is A
No explanation has been provided for this answer.