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A demand schedule is shown as:

A. A function of price alone

B. A result of change in tastes

C. A result of increase in the size of the family

D. None of the above

Correct Answer : A.


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  1. The longer the period of time, the elasticity of supply will be:
  2. If the supply curve is not a straight line but curvilinear, the elasticity on all points of the supply…
  3. A demand schedule is shown as:
  4. In cournot model, at equuilibrium when MC = MR, the elasticity of demand is:
  5. For the equilibrium of the firm and the industry in the short period in a competitive market, the condition…
  6. If a consumer buys a product that costs Rs.3 and provides an additional 18 units of satisfaction, then…
  7. Which of the following is not a characteristic of a perfectly competitive market?
  8. For a few products such as insulin for diabetics,:
  9. The number of sellers in oligopoly is:
  10. The difference between the average total cost and average variable cost as output increases will:
  11. Airlines that try to lower fares in order to increase revenues believe that demand for airline services…
  12. A typical demand curve cannot be:
  13. Which of the following pairs of commodities is an example of substitutes?
  14. Because of selling costs, the demand curve of a firm shifts:
  15. Extension (expansion) of demand means:
  16. Quantity demanded or supplied is measured in:
  17. Increasing returns imply:
  18. When the income of consumer increases then budget line will:
  19. The total utility is gained by consuming:
  20. The Hicksian indirect utility function in the form of equation is:
  21. MC = MR = AC = AR shows the long run equilibrium position of the:
  22. A market-clearing price:
  23. AR curve under perfect competition:
  24. In terms of price, the indirect utility function may be:
  25. Kinked Demand Curve is consistent with which one of the following market situations?
  26. The short run cost curve is U shaped because of:
  27. The modern cost curves are based upon the idea of:
  28. Change in quantity demanded refers to:
  29. When marginal costs curve cuts average costs curve, average costs are:
  30. Discriminating monopoly implies that the monopolist charges different prices for his commodity: