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According to Marginalists, the price of any commodity is determined by:

A. Marginal usefulness

B. Marginal cost

C. Both of them

D. None of them

Correct Answer : C.


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  1. The proportionality rule in production requires that the ratios of MP and factor prices are:
  2. Conditions of perfect competition ensure:
  3. Extension (expansion) of demand means:
  4. In the theory of firm, Chamberline presented the idea of:
  5. The kinked demand curve comes into being where:
  6. If the slope of the isoquant is equal to the slope of isocost, then isoquant is:
  7. Equilibrium of a discriminating monopolist requires the fulfillment of which one of the following conditions?
  8. When sales tax is imposed on monopolist, its:
  9. When with a change in price the total outlay (expenditures) on a commodity remains constant, it is a…
  10. Some economists refer to iso-product curves as:
  11. If, at the prevailing price, more of a good is desired than is available for sale:
  12. If the consumers expect that the price of computers will decrease in next year then:
  13. Excess capacity is concerned with the:
  14. In perfect competition, the slope of the total revenue curve of a firm is equal to the:
  15. Marginal utility (MU) always:
  16. Kinked Demand Curve is consistent with which one of the following market situations?
  17. Technological efficiency:
  18. Who formulated the Post-Keynsian Theory of Distribution and Growth?
  19. The central problem of economics is:
  20. Time Preference Theory of Interest was presented by:
  21. If a consumer buys a product that costs Rs.3 and provides an additional 18 units of satisfaction, then…
  22. Indifference curve approach (ordinal approach) is superior to utility approach (cardinal approach) because:
  23. The nominal income of a consumer is income in terms of:
  24. Capital Saving Technological Progress can be defined as:
  25. Engel curves shows that:
  26. With the change in the factor prices, the slope of the expansion path will:
  27. In short run, a firm would remain in business as long as which one of the following of cost is covered?
  28. If the commodity is inferior then Income Effect (I.E) is:
  29. The average cost curve is a geometrical illustration of:
  30. When marginal costs curve cuts average costs curve, average costs are: