Change in its price causes a proportionately greater change in its quantity demanded
Change in its price does not change its quantity demanded
Change in consumers income causes change in demand
None of the above
A. Change in its price causes a proportionately greater change in its quantity demanded
More elastic
Less elastic
Unit elastic
Perfectly inelastic
Long-run average cost (LAC) curves
Short-run average cost (SAC) curves
Average variable cost (AVC) curves
Average total cost (ATC) curves
1/2 of the total market demand
1/4 of the total market demand
1/3 of the total market demand
None of the above
Growth of firms processing its waste materials
Development of research bureau serving the industry
Supply of suitable skilled labor in the area
All of the above
Contraction of demand
Decrease in demand
Increase in demand
Extension of demand
Total utility to fall and marginal utility to increase
Total utility and marginal utility both to increase
Total utility to fall and marginal utility to become negative
Total utility to become negative and marginal utility to fall
Total costs
Fixed costs
Variable costs
Constant costs
Face losses
Avoid losses
Bear losses
Make economic decisions
Both parties make better-off
Both parties make worse-off
Both parties become Neutral
One party can become better off only if another is made worse off
TR function
AR function
MR function
AP function
Spill-over costs
Money costs
Alternative costs
External costs
Directly related
Unrelated
Closely related
Negatively related
Do not effect equilibrium
Affect equilibrium
Both a and b
None of the above
Downward
Upward
Horizontal
Straight line
Price of commodity X in terms of Y
Price of commodity Y in term of X
Income of the consumer
All of the above
Neo-classical economist
Classical economist
Keynesian economist
Post-Keynesian economist
Goods
Goods and survices
Goods and survices it can purchased
Monetary units
MP is positive
MP is negative
MP is falling
MP is rising
Unstable
Stable
Variable
Fluctuating
All buyers and sellers have perfect knowledge of the market
Freedom of entry of firms into the industry
Homogeneous product
All of the above
Cannot make price adjustments
Can make price adjustments
Can adjust number of customers
None of the above
Least cost factor combination
Optimum factor combination
Both a and b
None of them
Each additional unit of output will be more expensive to produce
Each additional unit of output will require increasing amount of inputs
Marginal product of the variable factor of production decreases as the quantity increases
All of the above
Half utility
Full utility
Additional utility
Multiplied utility
1/2 of the total market demand
1/4 of the total market demand
1/3 of the total market demand
None of the above
Falling when average cost is falling
Rising when average cost is falling
Falling when average cost is rising
Rising when average cost is rising
Sets of points relating production function that maximizes output given input (labor) i.e. Q = f(L, K)
Sets of points relating production function that produces less output than possible for a given set of input (labor) i.e. Q < f(L, K)
Use of imported technology
None of the above
Of the last unit of production
Of marginal unit
Of marginal efficient units
Of the average units of production
Restrict output to increase price
Produce where MC > P
Create a gap b/w quantity demanded and supplied
None of the above