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According to Leontief technology, there:

A. Is only one technique of production

B. Are few techniques of production

C. Are many techniques of production

D. Are two techniques of production

Correct Answer : A.


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  1. When price decreases and with it the total outlay on a commodity also decreases, it is a case of:
  2. Consumers Surplus can also be defined as:
  3. Increasing returns is not caused by:
  4. Which of the following is the work of A.C.Pigou?
  5. The main contribution of Malthus is in the field of:
  6. Who first used the term Quasi-Rent?
  7. At a point where a straight line demand curve meets the price axis (Y-axis), the elasticity of demand…
  8. The horizontal demand curve for a commodity shows that its demand is:
  9. After reaching the saturation point consumption of additional units of the commodity cause:
  10. If there are many producers, each of whom has an individual production possibility curve, then the lowest…
  11. If in the long run all factor inputs are increased three times and the resulting output is four times…
  12. By saying that monopolist create a contrived scarcity, economist mean that monopolist:
  13. Price discrimination is undertaken with the aim of:
  14. With the change in the factor prices, the slope of the expansion path will:
  15. If a firm is producing output at a point where diminishing returns have set in, this means that:
  16. In which case the elasticity shown by the different points of a curve is the same?
  17. In monopolistic competition, the firm take advantage due to customers:
  18. Indifference curves reflect:
  19. The market demand for any commodity is the:
  20. The right of individuals to control productive resources is known as:
  21. Under monopolistic competition, in long-run there is:
  22. Classical production function is:
  23. Income-elasticity of demand is expressed as:
  24. When total product (TP) is maximum:
  25. Any straight line supply which cuts the x-axis will have:
  26. In substitution effect, we:
  27. If under perfect competition, in the short period, price does not cover the average cost completely,…
  28. Price effect occurs on the higher IC in case of:
  29. In a perfectly competitive market, suppliers must know:
  30. MRSxy measures: