MCQ
A firm and Industry are one and the same under ……………………
- APerfect competition
- BDuopoly
- COligopoly
- ✓Monopoly
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| a) | Gross profit | 1) | Total revenue - Total cost | |
| b) | Net profi | 2) | Gross profit - Implicit cost | |
| c) | Normal profit | 3) | Minimum expected return | |
| d) | Super normal profit | 4) | Actual profit - Normal profit | |
| a) | $(\alpha+\beta)=1$ | 1) | Diminishing returns |
| b) | $(\alpha+\beta)<1$ | 2) | Cobb-Douglas |
| c) | $(\alpha+\beta)>1$ | 3) | Constant returns |
| d) | $Q =A L ^\alpha K ^\beta$ | 4) | Increasing returns |
| a) | EMS Hub of India | Chennai | |
| b) | Gateway of Tamil Nadu | Thoothukudi | |
| c) | Bus body building | Karur | |
| d) | Steel City | Erode | |