Control over production but not over price
Control neither on production nor on price
Control over consumers
Control over production as well as over price
D. Control over production as well as over price
Only when the price of commodity X changes
Only when the price of commodity Y changes
Only when the consumers income is varied
None of the above
Different
Same
Zero
None of the above
Firm
Product group
Producers
Shopkeepers
Save as much of his income as possible
Spend as much of his income as possible
Buy everything at the lowest possible price
Make wise choices among available economic goods
Partially offsets the substitution effect
Reinforces the substitution effect
Is equal to the substitution effect
More than offsets the substitution effect
Increasing marginal utility
Decreasing marginal utility
Zero marginal utility
Negative marginal utility
Perfect elasticity (infinitely elastic)
Relative elasticity (greater than one elasticity)
Perfect inelasticity (zero elasticity)
Relative inelasticity (less than one elasticity)
Perfect competition price is charged
Monopoly price is charged
Monopoly price is not charged
None of the above
Supply curves are inelastic
Supply curves are perfectly elastic
Demand curves are elastic
Supply curves are elastic
also maximize its profits
not maximize its profits
maximize its costs
none of the above
Less than one
Equal to one
Greater than one
Less than one
monopolistic firms
monopoly
competitive firms
none of the above
Recessive strategy
Dormant strategy
Dominant strategy
Hidden strategy
Principle of diminishing returns
Economies and diseconomies of large scale production
Principle of constant return to scale
All of the above
Per unit revenue received from all the units sold by the producer
Revenue of the units having average size
Total number of units× Revenue per unit
Total revenue × Number of units sold
The law of diminishing marginal utility
The law of demand
The Law of Diminishing Returns
The law of supply
Due to change in price while other factors remain constant
Due to change in factors other than price
Both a and b
None of the above
Utility effect
Budget line effect
Substitution effect
Income effect
output
input
price
advertisement
Few economic agents
All the economic agents
Two economic agents
Many economic agents
E =1
E >1
E <1
E =0
Downwards to the right
Upwards to the right
Backwards to the right
Inwards at the bottom
Proportional demand curve (PDC) and individual demand curve (IDC) intersect each other
Proportional demand curve (PDC) and individual demand curve (IDC) are parallel to each other
Proportional demand curve (PDC) and individual demand curve (IDC) repel each other
None of the above
Profit curve
Demand curve
Average cost curve
Indifference curve
Repel each other
Represent each other
Intersect each other
None of the above
Wages of the labor
Charges of electricity
Interest on owned money capital
Payment for raw materials
Oligopoly
Pure competition
Perfect competition
Monopolistic competition
Increases
Remains the same
Diminishes
Zero
Fixed cost
Variable cost
Both fixed and variable costs
None of the above
Extra price benefits
Shortage of quantity
Surplus of quantity
Difference between actual price and potential price