Excess demand

Qd > Qs

Shortage of supply

All of the above

**In constant sum game (zero sum game), if there are two parties then:****Marginal revenue from a given output:****The competitive equilibrium leads to:****Microeconomics is also known as:****In monopolistic competition, the aim of the firm is to:****Economic laws are:****When price decreases and with it the total outlay on a commodity also decreases, it is a case of:****Engel curves shows that:****A firm is a sum of persons who convert:****If X and Y are close substitutes, a fall in price of X will lead to:****When elasticity of demand is one (e=1), then following the formula MR=P[1-1/e], the MR will:****The utility function u = f(x) is based upon :****In non-collusive oligopoly firms enter into:****The relationship between price effect, income effect and substitution effect is:****In short-run, in monopolistic competition, a firm earns:****The point where the supply and demand curves intersect on a graph determines:****Entry of new firms into a competitive market will shift the supply curve of the:****Suppose income increases by 10% and demand for commodity increases by 5% then the income elasticity…****According to Chamberline, in monopolistic competition, differentiation is determined by:****At final equilibrium in cournot model, each firm sells:****The Cambridge School of Thought refers to the group of English economists who came under the influence…****The total revenue curve for monopolist is the shape of:****The equilibrium conditions, MC = MR = AR = AC, will happen:****Variable cost includes the cost of:****In Recardian theory of value, the stress has been made on:****Nash equilibrium is applicable in case of:****If the price of coffee increases, you would predict that:****Perfect competition assumes:****Consumers are likely to get a variety of similar goods under:****A demand curve which is horizontal and parallel to x-axis represents:**