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Contraction of demand means:

A. Less quantity demanded at the same price

B. Less quantity demanded at a higher price

C. Less quantity demanded at a lower price

D. None of the above

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  1. The concept of industry in monopolistic competition has been replaced by:
  2. A firms profit is equal to:
  3. A firm enjoys maximum control over the price of its product under:
  4. Indifference curve represents:
  5. Indifference curves are downward sloping and are drawn bowed toward the origin (convex to the origin)…
  6. The pay-off matrix shows:
  7. The general form of Cobb-Douglas production function is:
  8. In Prisoners Dillemma, the players are:
  9. The slope of budget line shows the price ratios of:
  10. In monopolistic competition, the firm take advantage due to customers:
  11. The critics of Sweezy model say that kink generates:
  12. The Hicksian demand curve includes:
  13. To calculate the Economic Profit we must deduct which of the following cost from our total revenues?
  14. For the equilibrium of the firm and the industry in the short period in a competitive market, the condition…
  15. Plumbing and pipe-fitting require many of the same skills. If the wage paid to pipe-fitters increased…
  16. If the commodity is inferior then:
  17. MC is given by:
  18. Now-a-days in real life, we are unable to fined:
  19. The Strategy of Economic Development is the work of:
  20. Average cost means:
  21. With which of the following concepts is the name of J.M.Keynes particularly associated?
  22. Of the following, which one corresponds to fixed cost?
  23. When the consumer is in equilibrium not only his income is fully spent, but the ratio of marginal utility…
  24. A monopolist:
  25. If the commodities X and Y are perfect complements then:
  26. If under perfect competition, in the short period, price does not cover the average cost completely,…
  27. In case of straight-line isoquant, the factors are not substituted because they are each others:
  28. If the prices of goods rise then:
  29. When SAC curve rises, SMC curve lies its:
  30. In non-constant sum game (non-zero sum game), if there are two parties then: