Normal profits
Abnormal profits
Differential profits
No profits
A. Normal profits
Under perfect competition
Under monopoly
Under imperfect competition
Under all the above market forms
V-shaped traditional cost curves
S-shaped traditional cost curves
Modern cost curves
U-shaped traditional cost curves
Zero elasticity
An elasticity greater than one
Unitary elasticity of supply
An elasticity less than one
Where there is no retail trade and every thing is sold on wholesale basis
Where trading of a particular commodity is controlled exclusively by one firm
Where many people sell only one commodity
A form of business organization in which only single proprietorship exists
Banned
Free
Partially free
Allowed
Constant returns to scale
Increasing returns to scale
Decreasing returns to scale
None of the above
Proportionate change in demand Proportionate change in price
Proportional change in the purchase of Y Proportional change in the price of X
Proportionate change in demand Proportionate change in income
Proportionate change in demand Proportionate change in price
Increase in demand for Y
Decrease in demand for Y
Decrease in demand for both X and Y
No change in demand for Y
Exotic behavior
Sympathetic behavior
Myopia behavior
Regular behavior
AP curves
MP curves
Both of them
None of them
Labour
Capital
Both of them
None of them
Negative
One
Positive
Zero
Separately in different cells
Collectively in different cells
Collectively in same cell
Separately in same cell
none of the above
When he cannot produce at an economic profit
When price falls short of average variable cost at every level of output
When price falls short of average fixed cost at every level of output
When price falls short of average total cost at every level of output
Can enter and exit
Partially can enter and exit
Cannot enter
None of the above
Total production
Fixed production
Variable production
None of the above
Input prices
Technological innovations
Both of them
None of them
Always
Never
When LAC is falling
Only at that level of output when LAC is at its minimum
David Ricardo
Alfred Marshal
J.S.Mill
Karl Marx
A.C.Pigou
Alfred Marshal
J.M.Keynes
D.H.Robertson
The MU/P ratio has decreased
Of the income and substitution effects
Consumers tend to feel poorer when prices fall
When price falls the demand curve shifts right
Downwards to the right
Upwards to the right
Backwards to the right
Inwards at the bottom
Alfred Marshal
Adam Smith
J.B.Clark
Hicks, Longe and Durbin
Goods into services
Output into inputs
Inputs into outputs
None of the above
x =f(P)
x =a-bp
Instable equilibrium
Stable equilibrium
Constant equilibrium
Fluctuating equilibrium
Same cost conditions
Different cost conditions
Same price conditions
Same products conditions
Both price and output
Either price or output
Neither price nor output
None of the above
dR/dQ + dC/dQ = 0
dR/dQ - dC/dQ = 0
dC/dQ - dR/dQ = 0
dR/dQ > dC/dQ > 0