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Capital Saving Technological Progress can be defined as:

A. Technological progress that causes to raise the marginal product of capital and labor in the same proportion

B. Technological progress that causes the marginal product of capital to increase relative to the marginal product of labor

C. Technological progress that causes the marginal product of labor to increase relative to the marginal product of capital

D. None of the above

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  1. In which case the elasticity shown by the different points of a curve is the same?
  2. The demand for cigarettes is price inelastic implying a unit tax on this commodity will
  3. Excess capacity is not found under:
  4. The cournot model is a model of:
  5. Who wrote Economics of Imperfect Competition?
  6. Traditionally, the study of determination of price is called:
  7. The proportionality rule in production requires that the ratios of MP and factor prices are:
  8. If the commodity is inferior then the increase in income of the consumer results in:
  9. When sales tax is imposed on monopolist, its:
  10. On the total utility curve the economically relevant range is the portion over which:
  11. In monopolistic competition, the firm take advantage due to customers:
  12. Which of the following is assumed to be constant when a supply curve is drawn:
  13. The partial equilibrium model keeps other things:
  14. The Tit for Tat strategy means cooperation by the 2nd firm if:
  15. An optimum level of a firms output is:
  16. According to Marshal, the Law of Diminishing Marginal Utility:
  17. Technological efficiency:
  18. A demand curve which is horizontal and parallel to x-axis represents:
  19. The game theory concentrates on:
  20. The Law of Proportionality is another name of:
  21. If, at the prevailing price, more of a good is desired than is available for sale:
  22. Elasticity of supply means change in supply due to change in:
  23. A fall in demand for the product under monopolistic competition will likely result in:
  24. The firm is said to be in equilibrium when the difference between revenue and cost is:
  25. The economic problem of determining the combination of inputs yielding lowest cost for producing a given…
  26. The line from the origin to a point on an isoquant shows:
  27. The situation in between the extremes of the govt. controlled, planned economy and the perfectly free,…
  28. If a good is an inferior good then an increase in incomes of the consumers will:
  29. A maximin strategy:
  30. Indifference curves are downward sloping and are drawn bowed toward the origin (convex to the origin)…