More elastic
Less elastic
Unit elastic
Perfectly inelastic
A. More elastic
Increase the quantity demanded
Fixed the quantity demanded
Decrease the quantity demanded
None of the above
Total profit
Average profit
Net profit
Marginal profit
There is tendency for firms to enter but not leave the industry
Firms have no tendency either to enter or to leave the industry
Some firms may enter while the others may leave the market even after the equilibrium of the industry
Entry or exit of the firms cannot be predicted
Average variable cost
Average fixed cost
Both average fixed and variable cost
None of the above
Minimum of average variable cost
Minimum of marginal cost
Minimum of average fixed cost
Minimum of average cost
Move to another indifference curve
Move along given indifference curve
Move to a higher indifference curve
Move to a lower indifference curve
Decreasing return to scale
Increasing return to scale
Constant return to scale
None of the above
Positive
Unitary
Negative
Infinite
Hydraulic function
Cubic function
Pentagonic function
Quadratic function
At different points
At the falling parts of each
At their respective minimums
At the rising parts of each
Increases
Decreases
Remains constant
None of above
All factors can be used in different proportions
Management can be re-organized
A firm can experience returns to scale
All of the above
Price increases and demand decreases
Price increases but demand also increases
Price remains constant but demand falls down
Price falls down but demand remains constant
Functional relationships
Family relationships
Economic position
Stagnant relationships
Vertical summation of individual demand curves
Upward summation of individual demand curves
Downward summation of individual demand curves
Horizontal summation of individual demand curves
Cannot be changed
Can be changed
Can partially be changed
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
When elasticities of demand in different markets are the same at the ruling price
When elasticities of demand are different in different markets at the ruling price
When elasticities cannot be known
When elasticities of demands are zero in different markets at the rulling price
Demand becomes less elastic
Elasticity does not change
Demand has unitary elasticity
Demand becomes more elastic
Greater than one
Less than one
Zero
Equal to one
Highly elastic
Perfectly inelastic
Fairly elastic
Moderately elastic
Standardized product
Differentiate product
Two firms
No entry
Yield maximum total revenue
Minimize marginal cost
Maximize marginal cost
Equate marginal revenue with marginal cost
A straight line curve
A downward sloping demand curve
A rectangular hyperbola demand curve
None of the above
Double to that of AR
1/2 to that of AR
2/3 to that of AR
Four times to that of AR
Two goods
A few goods
One good
Many goods
Q = a- bP
Y = a- bP
Q = a+ bP
Only when the price of commodity X changes
Only when the price of commodity Y changes
Only when the consumers income is varied
None of the above
Steps downwards at first and then upwards
Steps upwards, then remains constant and then falls
Steps downwards
None of the above
Maximum
Minimum
Equal
Lower