Average variable cost
Average fixed cost
Both average fixed and variable cost
None of the above
B. Average fixed cost
Two points on demand curve
Two points on supply curve
Many points on demand curve
Many points on demand curve
Different prices are charged to different consumers for homogenous products
Same prices are charged for differentiated products
Different prices are charged for homogenous goods for successive units to the same customer
Any of the above condition is present
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
Supreme powers
Discretionary powers
Low powers
None of the above
Independence of firms
Interdependence of firms
Independence of individuals
Interdependence of materials
Negative
Positive
Infinite
Zero
Modern and traditional industries
Public and private sectors
Foreign and domestic investments
Commercial and subsistence farming
Every consumer
Most consumers
All consumers
Some consumers and not for others
Monopoly
Oligopoly
Duopoly
None of the above
R.G.Lipsey
Paul.A.Samuelson
E.D.Domar
J.M.Keynes
Infinite
Zero
Equal to one
None of the above
Income rises
Income falls
Sales rises
Price falls
Both move together and reinforce each other
One moves and the other remains constant
Move in the opposite direction and neutralize each other
Both remain constant
Total costs
Fixed costs
Variable costs
Constant costs
Transforming Traditional Agriculture
Productivity and Technical Change
Jobs, Poverty and the Green Revolution
Causes of Poverty
More quantity demanded at a lower price
More quantity demanded at a higher price
More quantity demanded at the same price
None of the above
Freedom of entry and exit
Each seller is a price taker
Perfect information about prices
Heterogeneous products
Decrease in the future
Increase in the future
Remain constant
None of the above
All consumers are alike
Incomes of all consumers is the same
Tastes of all consumers are the same
Consumers differ in taste, incomes and other matters
Q = f(L)
U =f(X)
Q =f(K)
Q =f(L,K)
Highly elastic
Perfectly inelastic
Perfectly elastic
Zero elastic
R.G.D.Alien
J.R.Hicks
A.C.Pigou
None of the above
Charge the same price in both markets
Always charge a higher price in the market where he sells more
Always charge a higher price in the market where he sells less
Adjust his sales in the two markets so that his marginal revenue in each market just equals his aggregate marginal cost
Sets of points relating production function that maximizes output given input (labor) i.e. Q = f(L, K)
Sets of points relating production function that produces less output than possible for a given set of input (labor) i.e. Q < f(L, K)
Use of imported technology
None of the above
Cost of the average units
Cost of the last units of average
Cost of the unit of production
Total cost marginal cost
Advertise to increase the demand for their product
Do not advertise, because most advertising is wasteful
Do not advertise because they can sell as much as they want at the current price
Who advertise will get more profits than those who do not
By a same single curve
By three different curves
By downward sloping curve
None of the above
Income Consumption Curve (ICC)
Engels Curve
Price Consumption Curve (PCC)
Production Possibility Curve (PPC)
More units
Less units
Same units
Zero units
An externality is a cost or benefit which is not transmitted through prices
An externality is a cost or benefit which is transmitted through prices
An externality is a production received through external resources
None of the above