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Demand is consumers:

A. Ability to get a commodity

B. Willingness to get a commodity

C. Willingness and ability to get a commodity

D. Desire for a commodity

Correct Answer : C.


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  2. The total utility (TU) curve is:
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  5. When with a change in price the total outlay (expenditures) on a commodity remains constant, it is a…
  6. Who wrote Economics of Imperfect Competition?
  7. Which of the following is assumed to be constant when drawing a demand curve?
  8. Extension (expansion) of demand means:
  9. In a perfectly competitive market, suppliers must know:
  10. In cournot model, each firm makes decision regarding:
  11. The equilibrium of a firm is determined by the equality of MC and MR in only:
  12. Income-demand curve shows:
  13. In second degree price discrimination, monopolist takes away :
  14. Total variable cost curve:
  15. The amount of income left over for a consumer in equilibrium is :
  16. The act of producing the output from more than one plant is concerned with:
  17. In cournot model, at equuilibrium when MC = MR, the elasticity of demand is:
  18. To calculate the Economic Profit we must deduct which of the following cost from our total revenues?
  19. Total profits are maximized at the point where:
  20. We can obtain consumers demand curve from:
  21. Who is the author of Problems of Capital Formation in Underdeveloped Countries?
  22. In general, most of the production functions measure:
  23. If two goods are perfect substitutes then IC will be:
  24. The slope of marshallian demand curve is:
  25. A budget line shows:
  26. When AC curve falls, MC curve falls:
  27. If the demand for good is more elastic and government levied a tax per unit of output, the price per…
  28. The average cost curve is a geometrical illustration of:
  29. The number of sellers in oligopoly are:
  30. The main contribution of Prof. R.G.D.Allen is in the field of: