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

The shape of TFC curve is

The point where TR curve cuts TC curve is called

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.

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

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