In perfect competition a firm increases profit when _____ exceeds ________.

The discriminating monopoly can be categorized as_______.

---------------------- deals with the behavior of individual decision makings units such as consumers, resource owners and so on.

A Firm’s profitability depends much on its ----------------- of production.

Low price of a good generally keeps its price elasticity of demand as -------- ---.

In the case of inferior goods, the income elasticity of demand is -------------- ---

In perfect competition a firm increases profit when _____ exceeds ________.

The point where TR curve cuts TC curve is called

The shape of TFC curve is

When the output produced is maximum for the given level of input the firms achieve