MCQ
The cost function is the
- ✓Relationship between total cost and output
- BRelationship between revenue and cost
- CRelationship between wages and interest d. None of the above
- DNone of the above
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| (a) | Equilibrium | i | Keynes |
| (b) | Utils | ii | Marshall |
| (c) | Ragnar Frisch | iii | England |
| (d) | Neo-classical school | iv | Adam smith |
| a) | Natural monopoly | Nickel (Canada) | |
| b) | Artificial monopoly | Gold mines (Africa) | |
| c) | Legal monopoly | Patent right | |
| d) | State monopoly | Railways (India) | |