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Extension (expansion) of demand means:

A. More quantity demanded at a lower price

B. More quantity demanded at a higher price

C. More quantity demanded at the same price

D. None of the above

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  1. In an indifference curve diagram, when the price of a product increases, the decline in quantity demanded…
  2. In price leadership, like leader, the follower firm may:
  3. Micro economics is concerned with:
  4. For a commodity giving large consumers surplus, the demand will be:
  5. Which is not a central problem of an economy?
  6. Supply of a commodity refers to:
  7. The Law of Equi-Marginal Utility states:
  8. In joint-profit maximization cartel, central agency sets the:
  9. In monopolistic competition, the aim of the firm is to:
  10. A producer attains the least cost combination when the relation between Marginal Rate of Technical Substitution…
  11. MC = MR = AC = AR shows the long run equilibrium position of the:
  12. Which of the following formulae explain the term average revenue?
  13. If the commodity is inferior then the increase in income of the consumer results in:
  14. The difference between average total cost and average fixed cost shows:
  15. An optimum level of a firms output is:
  16. If a person behaves against the laws of economics then:
  17. According to Saint Thomas Aquinas value is determined by God, but prices by:
  18. Which of the following curves is a rectangular hyperbola?
  19. Cournot equilibrium is attained where two reaction curves:
  20. In modern cost theory, AVC= b1 and MC= b1 in the range of:
  21. If the marginal utility of apples to a consumer exceeds that of bananas then the consumer:
  22. When in a market, the number of buyers is very large and the number of sellers is very small, it is…
  23. Returns to scale is a:
  24. When was Adam Smiths major work An Enquiry into the Nature and Causes of Wealth of Nations published?
  25. In second degree price discrimination, monopolist takes away :
  26. If X and Y are close substitutes, a rise in the price of X will lead to:
  27. The study of economics just in theoretical way is called:
  28. Which of the following formula determine the income elasticity of demand?:
  29. To calculate the Economic Profit we must deduct which of the following cost from our total revenues?
  30. A price is a ratio of exchange between: