The theory of the firm under perfect competition — Economics STD 12 Humanities & Commerce — Question

___________ is a form of the market in which there are a few big sellers of a commodity and a large number of buyers.

Undistributed profit, corporate tax and dividend are the components of __________.

____________ is the addition to the total utility as consumption is increased by one more unit of the commodity.

As output increases, AC and AVC tends to be closer but the difference between AC and AVC can never be ________.

GDP_MP = _________ + Indirect taxes - subsidies.

Lack of resources gives rise to the problem of __________ .

If the market supply of a commodity X changes due to rise in price of a factor input, the market supply curve will _______.

If the market supply of a commodity X changes due to rise in price of a factor input, the market supply curve will ________. (Fill up the blank)

Under perfect competition, per unit price remains _______ therefore, average and marginal revenue curves coincide each other.

__________ is a market situation in which there is a single seller and no close substitutes are available of a commodity.