Cournot equilibrium is attained where two reaction curves:
Repel each other
Represent each other
Intersect each other
None of the above
Correct Answer :
C. Intersect each other
Related Questions
In respect of which of the following category of goods is consumers surplus highest?
Giffen goods
Necessities
Luxuries
Prestige goods
According to Chamberline, in monopolistic competition, differentiation is determined by:
Choices
Preferences
Both a and b
None of the above
The marginal revenue of a perfectly competitive firm is:
Equal to the prices of its products
Positively related to output
Negatively related to output
Always higher than marginal cost
The marshallian demand curve includes:
Substitution Effect
Income Effect
Both substitution and income effect
None of them
A market demand curve presumes that:
All consumers are alike
Incomes of all consumers is the same
Tastes of all consumers are the same
Consumers differ in taste, incomes and other matters
The necessary condition of firms equilibrium requires:
dR/dQ + dC/dQ = 0
dR/dQ - dC/dQ = 0
dC/dQ - dR/dQ = 0
dR/dQ > dC/dQ > 0
The indirect utility function is a homogeneous function of:
degree one
degree zero
degree less than one
degree greater than one
Price discrimination occurs when:
Different prices are charged to different consumers for homogenous products
Same prices are charged for differentiated products
Different prices are charged for homogenous goods for successive units to the same customer
Any of the above condition is present
In monopoly, when average revenue curve falls:
MR constant
MR rises
MR falls
MR is zero
The fixed cost of a firm:
Are fixed even in the long period
When expressed as an average, show a continuous decline with increase of output
Do not reflect diminishing marginal returns
None of the above
The main contribution of Alfred Marshal is in the field of:
Research in mathematical economics
Economics of labor
Theory of production
Theory of demand
Which industries spend a relatively large share of their revenue on research and development in order to keep up with their competitors?
Grocery stores
High-Tech industries
Automobiles
Construction
On all points of budget (price) line:
Total expenditures increases
Total expenditures decreases
Total expenditures are zero
Total expenditures remain same
Of the following, which one corresponds to fixed cost?
Payments for raw materials
Labor cost
Transportation charges
Insurance premium on property
The monopolist firm is price setter. The price setter firm is one which:
Can influence the market price
Cannot influence the market price
Can sell at zero price
None of the above
Returns to scale is a:
Timeless phenomenon
Short run phenomenon
Long run phenomenon
None of the above
Ordinal approach includes arranging:
The different combinations of X and Y in any way the consumer wants
The different combinations of X and Y higher and lower and measuring the difference of utility between them
The different combinations of X and Y higher and lower and not measuring the difference of utility between them
None of above
If the supply and demand increases equally, the price will:
Rise
Fall
Remain unchanged
Change depending on respective elasticities
Income effect operates through an increase
In nominal income
In money income
In wages
In real income because of the fall of price of a commodity
If the increase in demand is more than the increase in supply, the price will:
Rise
Fall
Remain the same
None of the above
In monopolistic competition, the firms face:
Horizontal demand curve
Vertical demand curve
Similar demand curve
Differential demand curve
In dominant strategies I am doing the best, I can no matter:
What you do
What you are doing
What you not do
None of them
Who is the author of Problems of Capital Formation in Underdeveloped Countries?
R.Nurkse
N.Kaldor
S.kuznets
Alfred Marshal
In case of monopoly, the slope of MR is:
Always three times than the slope of AR
Always double than the slope of AR
Always equal to the slope of AR
None of the above
In non-constant sum game (non-zero sum game), if there are two parties then:
Both parties make better-off
Both parties make worse-off
Both parties become Neutral
Both parties can become better off or worse off
In the case of a normal goods, the income effect:
Is always equal to the substitution effect
Completely offsets the substitution effect
Partially offsets the substitution effect
Reinforces the substitution effect
In Nash equilibrium, a player:
Deviates from his strategy
Does not deviate from his strategy
Does not think in a good way
None of the above
Increase in demand occurs when:
The price falls and the demand also falls down
The price increases but demand falls down
The price increases the demand remains constant and when the price remains constant the demand goes up
The price remains constant but demand falls
According to Cobb-Douglas, in production function the marginal product of labor is:
According to translog production function, elasticity of substitution is:
Greater than one
Less than one
Zero
Equal to one