The effect of a change in price of X on its demand
The effect of a change in price of X on the demand for Y
The effect of a change in price of Y on its demand
None of the above
B. The effect of a change in price of X on the demand for Y
More elastic
Less elastic
Unit elastic
Zero elastic
Prof. Adam Smith
Prof. Alfred Marshal
Prof. Robbins
J.S.Mill
Product markets
Factor markets
Supply and demand
a, b and c
Maximum
Minimum
Zero
One
Market price
Equilibrium price
Long-term price
Short-term price
Cost of raw materials
Cost of equipment
Interest payment on past borrowing
Payment of rent on buildings
Few economic agents
All the economic agents
Two economic agents
Many economic agents
Political economy
Household Management
Production and consumption
Financial Accounting
Standardized product
Differentiate product
Two firms
No entry
Slope of total utility curve
Slope of average utility curve
Slope of marginal utility curve
Slope of total revenue curve
Equal
Different
Zero
Infinity
Consumption expenditure
Theory of population
Division of labor
Theory of demand
Utility effect
Budget line effect
Substitution effect
Income effect
Helps in separating the income effect and the substitution effect
Does not help in separating the two effects
Mixed up the two effects
None of the above
The price at which the marginal unit sells
Total revenue sale of all units divided by volume of sales
Average revenue of total output average revenue of last unit
The change in total revenue resulting from the sale of one unit more of output
R.G.Lipsey
Paul.A.Samuelson
E.D.Domar
J.M.Keynes
Shifts rightward
Shifts leftward
Does not shift
None of the above
By a same single curve
By three different curves
By downward sloping curve
None of the above
Donot change
Change
Both a and b
None of the above
TU curve
MU curve
Supply curve
None of the above
Oligopoly
Perfect competition
Imperfect competition
None 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
Wages of labor
Factor pricing
Theory of rent
Determination of the rate of interest
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
Marginal cost is zero
Total cost is zero
External costs are zero
Average costs are zero
Variable costs
Fixed costs
Average costs
Marginal costs
Average variable cost
Average fixed cost
Average variable cost + average fixed cost
Marginal costs
S.Kuznets
H.Liebenstein
A.O.Hirshman
Alfred Marshal
MR is positive
MR falls
MR rises
MR is zero
J.S.Mill
Adam Smith
Robert Malthus
David Ricardo