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A significant property of the Cobb-Douglas production function is that the elasticity of substitution between inputs is:

A. Greater than one

B. Less than one

C. Zero

D. Equal to one

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  1. If two goods are perfect substitutes then IC will be:
  2. The fundamental choices that a society must make about the use of its resources include:
  3. The concept of product differentiation was firstly introduced by:
  4. Each short run average cost curve:
  5. In cournot model, firms make decisions separately regarding:
  6. Production is a function of:
  7. Contracts made by firms in cooperative games are:
  8. In terms of price, the indirect utility function may be:
  9. In short-run, in monopolistic competition, a firm earns:
  10. Which one of the following has been the most influential work of F.H.Knight?
  11. Robbins definition of economics was criticised by:
  12. In case of perfect competition, TR curve rises at a:
  13. In dominant price leadership model, the small firms are like:
  14. The long run average cost curve is:
  15. The addition or increment to the total cost involvesd in expanding or contracting output by one unit…
  16. In the range of excess capacity, the average costs are:
  17. On an indifference map higher indifference curves show:
  18. Marginal Utility (MU) curve is always:
  19. To calculate the elasticity of demand, which of the following formula is used?:
  20. In centralized cartel, the firms are like:
  21. The equilibrium of a firm is determined by the equality of MC and MR in only:
  22. Marshallian approach is also known as:
  23. The optimal strategy for a player is termed as:
  24. If a good is an inferior good then an increase in incomes of the consumers will:
  25. Total costs are:
  26. The concept of industry in monopolistic competition has been replaced by:
  27. If the production increases under decreasing returns to scale, the cost will:
  28. Which of the following pairs of commodities is an example of substitutes?
  29. Utility means:
  30. Law of Substitution in production was presented by: