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If a ten percent increase in price causes a ten percent reduction in quantity demanded, elasticity of demand is:

A. Perfectly elastic

B. Elastic

C. Unitary elastic

D. Inelastic

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  2. In Edgeworth model, price remains:
  3. The long-run average cost is based on the fact that:
  4. For the equilibrium of the firm and the industry in the short period in a competitive market, the condition…
  5. The game theory concentrates on:
  6. Dumping is international discriminating:
  7. Income-demand curve shows:
  8. Equilibrium of a firm represents maximization of profits as well as:
  9. The relationship between MC and MP shown by the marginal cost concept is:
  10. The difference between laws of return and laws of return to scale is:
  11. Other things remaining the same, when a consumers income increases his equilibrium point moves to:
  12. In general, most of the production functions measure:
  13. Price discrimination is possible:
  14. Economic problems arise because:
  15. Contracts made by firms in cooperative games are:
  16. In case of complementary factors, the isoquants are:
  17. If the supply curve is not a straight line but curvilinear, the elasticity on all points of the supply…
  18. Law of Substitution in production was presented by:
  19. On an indifference map higher indifference curves show:
  20. A mixed economy is characterized by the coexistence of:
  21. If the production function is homogeneous, the expansion path will be a straight line through the origin…
  22. In monopolistic competition, the firms face:
  23. When elasticity of demand is less than one (e
  24. In second degree price discrimination, monopolist takes away :
  25. Cross-elasticity of demand or cross-price elasticity between two substitutes will be:
  26. The products, under monopolistic competition are differentiated, yet they are:
  27. Chamberline introduces the concept of:
  28. LMC represents change in LTC (long-run total cost) due to producing an additional unit of a good while…
  29. If the demand curve is horizontal then its slope is:
  30. Monopolistic firm can fix: