Question No: 12 ( Marks: 1 ) - Please choose one
If a monopolist sets his output such that marginal revenue, marginal cost and average total cost are equal, economic profit must be:
► Negative.
► Positive.
► Zero.
► Indeterminate from the given information.
Question No: 17 ( Marks: 1 ) - Please choose one
What will happen to the isocost line if the price of both goods increases?
► It shift farther away from the origin of the graph.
► It shift inward, closer to the origin.
► It vanishes.
► It undergoes no change
Question No: 19 ( Marks: 1 ) - Please choose one
If Average Physical Product (APP) is increasing then which of the following must be true?
► Marginal physical product is greater than average physical product.
► Marginal physical product is less than average physical product.
► Marginal physical product is increasing.
► Marginal physical product is decreasing.
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