Can sell more
Reduces its revenues
Can sell nothing
Increases its revenues
C. Can sell nothing
Lower price in order to increase revenues
Lower price in order to decrease the amount of oil sold
Rise price in order to increase the amount of oil sold
Raise price in order to increase revenues
Increase at decreasing rate
Increase at constant rate
Decrease at increasing rate
Increase at increasing rate
Is only one technique of production
Are few techniques of production
Are many techniques of production
Are two techniques of production
Many goods
Few goods
Two goods
Three goods
Consumption expenditure
Theory of population
Division of labor
Theory of demand
Cost of the average units
Cost of the last units of average
Cost of the unit of production
Total cost marginal cost
An inferior good
A giffen good
A normal(or superior) good
None of the above
Ricardo
Marshal
Neomann and Morgenstern
Karl Marx
Capital cost plus operating costs
Capital costs alone
Capital costs plus spill-over costs
Operating costs alone
Money and exchange
Quantity and production
Production and consumption
Money and quantity
Every consumer
Most consumers
All consumers
Some consumers and not for others
TC = TR and MC = MR
Firms operate at a minimum average total cost
There is no incentive for entry or exit of firms
All these conditions exist
Perfect competition
Imperfect competition
Price discrimination
Duopoly and oligopoly
U
V
P
S(inverted)
Lead to greater specialization
Offsets the effects of the law the law of comparative advantage
Lead to greater diversification of individual production
Cause firms to use more capital and less labor
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
greater than zero
less than one
greater than one
less than one
Sunspot Theory
Monetary Theory
Saving-Investment Theory
Innovation Theory
true
not true
reliable
deniable
The average fixed cost is covered
The average variable cost is covered
Some profit is earned
The entrepreneurs enjoy producing
Technological progress that causes to raise the marginal product of capital and labor in the same proportion
Technological progress that causes the marginal product of capital to increase relative to the marginal product of labor
Technological progress that causes the marginal product of labor to increase relative to the marginal product of capital
None of the above
The budget line to get steeper
The budget line to shift parallel to the right
The indifference curve to shift up
The budget line to get flatter
Higher marginal valuation for consumer
Lower marginal cost for producer
Higher marginal cost for producer
Both (a) and (c)
Become equal
Decrease
Become constant
Increase
His output is maximum
He charges a high price
His average cost is minimum
His marginal revenue is equal to marginal cost
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
The demand curve can be upward sloping
The price elasticity of demand could be zero
The price elasticity of demand could be greater than one
None of the above
The law of diminishing marginal utility
The law of demand
The Law of Diminishing Returns
The law of supply
In the long-run
In the short-run
For luxuries
In the immediate-run
Oligopoly
Perfect competition
Imperfect competition
None of the above