Which of the following is a reason for the negative slope of the PPF?

The inverse relationship between the use of technology and the use of natural resources.
Scarcity at any point in time we have limited amounts of productive resources.
Resource specialisation.
Increasing opportunity costs.

Which of the following is not microeconomic subject matter?

A monopolist who is selling in two markets in which demand is not identical will be unable to maximize his profits unless he

The period of time in which the plant capacity can be varied is known as

Which of the following market situations explains marginal cost equal to price for attaining equilibrium?

In general, most of the production functions measure

The MC curve cuts the AVC and ATC curves

If two goods were perfect substitutes of each other, it necessarily follows that

An indifference curve relating the two goods will be curvilinear.
An indifference curve relating the two goods will be linear.
An indifference curve relating the two goods will be divided into two segments which meet at a right angle.
An indifference curve relating the two goods will be convex to the origin.

Supply of a commodity is a:

The law of consumer surplus is based on :

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