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According to classical approach, utility can be:

A. Ranked

B. Consumed

C. Expressed in numbers

D. Cannot be expressed in numbers

Please do not use chat terms. Example: avoid using "grt" instead of "great".

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  1. The law of variable proportions comes into being when:
  2. Which of the following theories of trade cycle was presented by William Jevons?
  3. Economic laws are:
  4. Of the following, which one corresponds to fixed cost?
  5. If, at the prevailing price, more of a good is desired than is available for sale:
  6. A producer attains the least cost combination when the relation between Marginal Rate of Technical Substitution…
  7. According to Marshal, the Law of Diminishing Returns is applicable to:
  8. In the case where two commodities are good substitutes then cross elasticity will be:
  9. In case of giffin good, price effect is:
  10. Which of the following is called Gossens first law?
  11. Moving along an indifference curve leaves the consumer:
  12. One way the government can induce a monopolist to expand his output is by imposing:
  13. Rent is a creation of value, not of wealth who made this observation?
  14. If Cobb-Douglas production function is homogeneous of degree less than one (n
  15. The supply curve would probably shift to the right if:
  16. An inferior good/ commodity is inferior for:
  17. Average cost curve contains in it:
  18. The effect of consumer boycotts usually is:
  19. Necessary condition for consumer equilibrium is:
  20. Market demand curve is:
  21. In price leadership, like leader, the follower firm may:
  22. Indifference curves are downward sloping and are drawn bowed toward the origin (convex to the origin)…
  23. One common definition of a luxury good is a good with income elasticity:
  24. Supply and demand changes have their most rapid impact in:
  25. Cartel is associated with:
  26. Stable cobweb model is a:
  27. While buying two goods X and Y with unequal prices, to maximize total utility from his income, a consumer…
  28. Cross-elasticity of demand or cross-price elasticity between two independent goods will be:
  29. Income distribution effects:
  30. In the short-run, the competitive firm can maximize its profits (or minimize its losses) by: