Less than one

Equal to one

More than one

Equal to infinity

**The study of economics just in theoretical way is called:****If the demand curve is inelastic then:****A firm can never produce in the middle area of input space, in case of:****In the case of an inferior good, the income effect:****For a few products such as insulin for diabetics,:****A monopolist is:****In Prisoners Dillemma, the players are:****The vertical distance between TVC and TC is equal to:****Price mechanism has also given the name:****At the point where the straight line from the origin is tangent to the TC curve, AC is:****In monopolistic competition, the firms follow:****On all points of budget (price) line:****The number of sellers in oligopoly are:****If as a result of an increase in prices, total outlay (expenditures) on a commodity decreases, its price-elasticity…****The number of sellers in oligopoly are:****According to marginalistic rule, the profit maximization hypothesis requires:****AR curve under perfect competition:****If both demand and supply were to increase then:****In cournot model, each firm expects a reaction from his rival but the expected reaction is not:****Total profits are maximized at the point where:****Cournot equilibrium is attained where two reaction curves:****If there are many firms producing similar but differentiated products, the competition is generally…****If demand increased and supply decreased then:****The ordinal approach was presented by:****In 1776, a famous book An enquiry into the nature and causes of the wealth of nation was written by:****A producer attains the least cost combination when the relation between Marginal Rate of Technical Substitution…****Indifference curves are downward sloping and are drawn bowed toward the origin (convex to the origin)…****In second degree price discrimination, monopolist takes away :****In centralized cartel, the firms are like:****Equilibrium of a firm represents maximization of profits as well as:**