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An inferior commodity is one whose quantity demand decreases when income of the consumer:

A. Decreases

B. Increases

C. Remains constant

D. Zero

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

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  1. The largest possible loss that a firm will make in the short run is:
  2. According to translog production function, elasticity of substitution is:
  3. At final equilibrium in cournot model, each firm sells:
  4. In non-collusive oligopoly firms enter into:
  5. In Nash equilibrium, a player:
  6. Labor theory was firstly rejected by:
  7. When the law of demand operates the demand curve:
  8. When price decreases and with it the total outlay on a commodity also decreases, it is a case of:
  9. When income of the consumer increases then demand curve of an inferior good:
  10. Who stated explicitly for the first time the Law of Camparative Costs?
  11. Price discrimination is possible:
  12. The income effect means that consumer purchase more when:
  13. Using total revenue and total cost, a profit maximizing firm will be equilibrium at a point:
  14. The MC curve cuts the AVC and ATC curves:
  15. Iso-product curve (isoquant) shows:
  16. Marginal revenue from a given output:
  17. The optimum level of output in long run takes place where:
  18. Who wrote An Introduction to Positive Economics?
  19. Of the following, which one is a characteristic of monopolistic competition?
  20. Micro economics is concerned with:
  21. The shape of the TC curve is:
  22. Duopoly is a market where there are:
  23. The low cost price leader will charge:
  24. Total utility and price are:
  25. The long run average cost curve is the envelope of:
  26. An inferior good/ commodity is inferior for:
  27. In the range of excess capacity, the average costs are:
  28. If there are many firms producing similar but differentiated products, the competition is generally…
  29. In long run competitive equilibrium:
  30. With which of the following concepts is the name of J.M.Keynes particularly associated?