Price of the commodity
Conditions of supply
Taste of the consumer
Demand for the commodity
A. Price of the commodity
Rise
Fall
Remain the same
None of the above
The operation of increasing cost
The existence of fixed cost
The existence of variable cost
All of the above
All factors can be used in different proportions
Management can be re-organized
A firm can experience returns to scale
All of the above
A straight line curve
A downward sloping demand curve
A rectangular hyperbola demand curve
None of the above
Move to another indifference curve
Move along given indifference curve
Move to a higher indifference curve
Move to a lower indifference curve
Negative
Positive
Infinite
Zero
x =f(P)
x =a-bp
Ratio between price and marginal cost
Extent of monopolistic profit enjoyed by him
Cross-elasticity of demand for the product of the monopolist
Price charged by the monopolist minus marginal cost of production
In ordinal approach we can separate the income effect from the substitution effect of a price change
In ordinal approach we can study the consumer behavior more closely
In ordinal approach the consumer is assumed more rational
In ordinal approach the consumer has more income
Ranked
Consumed
Expressed in numbers
Cannot be expressed in numbers
Total expenditures increases
Total expenditures decreases
Total expenditures are zero
Total expenditures remain same
Supreme powers
Discretionary powers
Low powers
None of the above
Perfect competition
Imperfect competition
Price discrimination
Duopoly and oligopoly
Price winner
Price searcher
Price taker
Price leaver
Two goods
Few goods
One good
Zero goods
A specific tax on the monopolists output
A price ceiling that make the monopolist lower his price
A price floor that make the monopolist raise his price
A heavy tax on the monopolists profit
Increase at a constant rate
Decrease at a constant rate
Increase at a variable rate
Decrease at a variable rate
Aggregates of the economy
Few units of the economy
Large units of the economy
Individual units of the economy
U
V
P
S(inverted)
Save as much of his income as possible
Spend as much of his income as possible
Buy everything at the lowest possible price
Make wise choices among available economic goods
David Ricardo
Adam Smith
James Mill
A.C.Pigou
Irving Fisher
J.B.Clark
J.M.Keynes
Gunnar Myrdal
Marginal propensity to consume
Marginal propensity to save
Liquidity preference
All of the above
Prof. Adam Smith
Prof. Alfred Marshal
Prof. Robbins
J.S.Mill
J.B.Clark
L.Euler
J.A.Schumpeter
Alfred Marshal
Infinite
Zero
Equal to one
None of the above
A fall in price
A decrease in the number of firms in the long-run
A decrease in the output of each firm
All of the above
MRS
MRT
MRTS
MRPS
Pure competition
Pure monopoly
Oligopoly
Monopolistic competition
Normal profits
Abnormal profits
No profits
All of the above