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Identify the author of The Social Framework:

A. R.G.D.Alien

B. J.R.Hicks

C. A.C.Pigou

D. None of the above

Correct Answer : B.


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  1. Which one of the following has been the most influential work of F.H.Knight?
  2. The proportional demand curve in monopolistic competition (also in kinked demand curve model), is like…
  3. The marshallian indirect utility function in the form of equation is:
  4. The price consumption curve (PCC) for commodity X is the locus of points of consumer equilibrium resulting…
  5. An inferior good/ commodity is inferior for:
  6. In market sharing cartel model, cartel determines the shares of:
  7. Change in quantity demanded refers to:
  8. In sweezy model (kinked demand curve model), the role of MC curve:
  9. If as a result of a decrease in price, total outlay (expenditures) on a commodity increases, its price-elasticity…
  10. The arc elasticity is the measure of average elasticity at the mid-point of the chord and connects:
  11. In monopoly, new firms:
  12. Repetition of a game (Repeated Game):
  13. Of the following, which one corresponds to fixed cost?
  14. In monopolistic competition, if a firm lowers its price, the rival firms will:
  15. In Revealed Preference Theory, Samuelson proves P.E = S.E + I.E :
  16. If a commodity sold under monopoly is got free of cost, then MC will be:
  17. The concept of product differentiation was firstly introduced by:
  18. Inputs or Factors of production are defined as:
  19. Who is the author of Trade Cycle ?
  20. The greater the percentage of income spent on a commodity:
  21. The substitution effect works to encourage a consumer to purchase more of a product when the price of…
  22. In second degree price discrimination, monopolist takes away :
  23. The demand curve of a firm in monopolistic competition is:
  24. When total product (TP) is maximum:
  25. Cournot equilibrium is attained where two reaction curves:
  26. A decrease in demand lowers the price the most:
  27. Any expansion in output by a firm in the short period will always reduce the:
  28. The alternative of profit maximization theory is:
  29. The effect of consumer boycotts usually is:
  30. Which of the following is not a feature of isoproduct curves?