Question

Say :- True/ False
1) There is unique solution in oligopoly market similar to other markets structure

2) Marginal cost is calculated by dividing total cost to output.
3) A change in total product resulting from a one unit change in the output at particular point of time is called marginal product.

4) Total fixed cost curve is a straight line horizontally

5) Utility is the power of commodity to satisfy human wants.

6) Mutual interdependence is the distinguishing features of Oligopoly market. 7) An isoquant is a curve that shows all possible efficient combinations of inputs that can yield equal level of output

8) Unemployment is a portion of the labor force that is without a job and not searches for work.

9) There is imperfect knowledge in the perfectly competitive market.

10) The Lowest level of output in business cycle is called recession

Answer 1

1) True
2) False
3) True
4) False
5) True
6) True
7) True
8) False
9) True
10) True