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Extension (expansion) and contraction of demand are result of:

A. Change in consumers income

B. Change in consumers tastes

C. Change in price

D. None of the above

Please do not use chat terms. Example: avoid using "grt" instead of "great".

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  1. If a consumer buys a product that costs Rs.3 and provides an additional 18 units of satisfaction, then…
  2. Price discrimination occurs when:
  3. Conditions of perfect competition ensure:
  4. If the supply curve is not a straight line but curvilinear, the elasticity on all points of the supply…
  5. The short run cost curve is U shaped because of:
  6. According to Chamberline, in monopolistic competition, differentiation is determined by:
  7. In sweezy model (kinked demand curve model), the overall increase in costs of production:
  8. The income effect means that consumer purchase more when:
  9. Under monopolistic competition, the products sold by the firms are:
  10. The cost of one thing in terms of the alternative given up is known as:
  11. Marshallian approach is also known as:
  12. Who is the founder of classical school of thought?
  13. When elasticity of demand is one (e=1), then following the formula MR=P[1-1/e], the MR will:
  14. If the price of a product falls which of the following would occur?
  15. A budget line shows:
  16. If the demand curve is vertical then its slope is:
  17. The Hicksian demand curve includes:
  18. Identify the coefficient of price-elasticity of demand when the percentage increase in the quantity…
  19. If Marginal Utility (MU) is zero, then total utility is:
  20. Neutral Technological Progress can be defined as:
  21. Quantity demanded or supplied is measured in:
  22. In Bertrand model, the entry of new firms is:
  23. An optimum level of a firms output is:
  24. Under competitive conditions, the industry will be in equilibrium:
  25. When marginal costs curve cuts average costs curve, average costs are:
  26. Nash equilibrium says:
  27. A monopolist is:
  28. If the commodities X and Y are perfect complements then:
  29. Even in the long-run equilibrium, the pure monopolist can make abnormal profits because of:
  30. The arc elasticity is the measure of average elasticity at the mid-point of the chord and connects: