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Elasticity of Substitution (s) is defined as:

A. Percentage change in capital-labor ratio dividing by percentage change in

B. Percentage change in dividing by percentage change in capital-labor ratio

C. Percentage change in inputs dividing by percentage change in outputs

D. None of the above

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  1. A producer attains the least cost combination when the relation between Marginal Rate of Technical Substitution…
  2. In monopolistic competition, the cost curves of all firms are:
  3. If the demand for good is more elastic and government levied a tax per unit of output, the price per…
  4. Income -elasticity of demand will be zero when a given change in income brings about:
  5. Which of the following oligopoly models is concerned with the maximization of joint profits?
  6. Utility means:
  7. The long run average cost curve is:
  8. Which of the following curves is a rectangular hyperbola?
  9. If demand increased and supply decreased then:
  10. A firm can never produce in the middle area of input space, in case of:
  11. According to Chamberlin, the activity of a monopolistic competitive firm:
  12. Economies of large-scale production:
  13. Total costs in the short-term (short-run) are classified into fixed costs and variable costs. Which…
  14. In monopolistic competition (also in kinked demand curve model), a firm sells the amount where:
  15. With which of the following concepts is the name of J.M.Keynes particularly associated?
  16. The vertical demand curve for a commodity shows that its demand is:
  17. In the short-run, in which one of the following situations would a competitive seller close down (shut-down)?
  18. Microeconomics is also known as:
  19. An indifference curve shows the bundles of two goods among which a consumer remains:
  20. Which is the correct statement?
  21. If two goods have same marginal utility for a consumer then:
  22. The relationship between AC and MC curves depend upon the behavior of:
  23. The cost of one thing in terms of the alternative given up is known as:
  24. The largest possible loss that a firm will make in the short run is:
  25. In monopolistic competition, because of difference in choices, the firm charges:
  26. A budget line shows:
  27. The main objective of the firm is to:
  28. Scarcity means:
  29. The MRTS along an iso-quant goes on to:
  30. The normal long-run average cost curve is influenced by the: