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External economies are witnessed in:

A. A rising supply curve

B. A rising demand curve

C. A falling supply curve

D. A falling demand curve

Correct Answer : D.


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  1. In cournot model, firms sell:
  2. When elasticity of demand is one (e=1), then following the formula MR=P[1-1/e], the MR will:
  3. The number of firms in monopolistic competition normally range between:
  4. Of the following, which one corresponds to fixed cost?
  5. Production indifference curve (isoquant) is a curve which shows:
  6. The equilibrium level of output for the pure monopolist is where:
  7. In monopolistic competition, the cost curves of all firms are:
  8. Indifference curves reflect:
  9. The least cost combination of factors x , y and z will generally be the point at which:
  10. Slope of a demand curve is:
  11. Demand of a commodity is elastic when:
  12. The budget constraint can be written as:
  13. Using total revenue and total cost, a profit maximizing firm will be equilibrium at a point:
  14. If X and Y are close substitutes, a rise in the price of X will lead to:
  15. In substitution effect and income effect:
  16. Marginal cost curve cuts the average cost curve:
  17. Which of the following is called Gossens first law?
  18. The substitution effect works to encourage a consumer to purchase more of a product when the price of…
  19. According to Marshal, the Law of Diminishing Marginal Utility:
  20. The total utility is gained by consuming:
  21. If Marginal Utility (MU) is zero, then total utility is:
  22. For a few products such as insulin for diabetics,:
  23. In monopoly and perfect competition, TC curves are:
  24. The games which played by players again and again are called:
  25. Utility means:
  26. Under pure monopoly, there will be:
  27. When the level of optimal factor combination is over and more labor is employed with the fixed plant,…
  28. In sweezy model (kinked demand curve model), the overall increase in costs of production:
  29. If demand is elastic and supply is inelastic then the burden of a tax on the good will be:
  30. Which of the following is not a feature of isoproduct curves?