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General Equilibrium deals with the equilibrium of the:

A. Consumer

B. Producer

C. Farmer

D. All the producers and consumers

Correct Answer : D.


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  1. The monopolist often lead to exploitation of:
  2. The costs faced by the firm against variable factors are:
  3. Total profits are maximized at the point where:
  4. In the immediate run:
  5. Increasing return to scales can be explained in terms of:
  6. In monopolistic competition, the firms have to face:
  7. The long-run AC curve is constructed from:
  8. If by doubling all inputs in the long run output is less than double, it is a case of:
  9. If the demand for good is less elastic and government levied a tax per unit of output, the price per…
  10. The Law of Diminishing Marginal Returns can be explained in terms of:
  11. The falling part of total Utility (TU) curve shows:
  12. Moving along the indifference curve leaves the consumer:
  13. In the modern theory of costs, the level of production which the firm considers feasible is known as:
  14. The substitution effect works to encourage a consumer to purchase more of a product when the price of…
  15. In case of budget line, we get pairs of two goods where consumers income is:
  16. Moving along an indifference curve leaves the consumer:
  17. The game theory takes into consideration:
  18. Marshallian approach is also known as:
  19. Each firm in cournot model assumes that its competitor will:
  20. According to current thinking, the law of diminishing returns applies to:
  21. Of the following, which one corresponds to fixed cost?
  22. At the shut-down point in perfect competition:
  23. The indifference curve technique:
  24. Using total revenue and total cost, a profit maximizing firm will be equilibrium at a point:
  25. If the demand for good is more elastic and government levied a tax per unit of output, the price per…
  26. The main contribution of Adam Smith is in the field of:
  27. Technological Progress (Invention) can be defined as:
  28. One way the government can induce a monopolist to expand his output is by imposing:
  29. The partial equilibrium model keeps other things:
  30. Some farm land can be used to produce either corn or soybeans. If the demand for corn increases then: