If cross-elasticity of one commodity for another turns out to be zero, it means they are:
Close substitutes
Good complements
Completely unrelated (independent goods)
None of the above
- External economies are witnessed in:
- The game theory is concerned with:
- The isoquant approach is based upon:
- Consumer surplus is the difference between
- The longer the period of time, the elasticity of supply will be:
- In case of straight-line isoquant, the factors are not substituted because they are each others:
- According to Robbins, economics is a:
- The marginal revenues are derivatives of:
- Which form of market structure is characterized by interdependence in decision-making as between the…
- Competitors in monopolistic competition have full control over:
- When the demand curve is rectangular hyperbola, it represents:
- If there are many producers, each of whom has an individual production possibility curve, then the lowest…
- In the perfect competition, there is a process of:
- The long-run AC curve is constructed from:
- At the point where a straight line demand curve meets the quantity axis (x-axis), elasticity of demand…
- Gold is bought and sold in a:
- Labor theory was firstly rejected by:
- To get more revenue, a Finance Minister impose tax on that commodity which has:
- Price discrimination is possible:
- In a competitive market, price is determined primarily by:
- Diminishing returns occur when a firm:
- Given a U shaped average cost curve, the relationship between average cost and marginal cost is such…
- The slope of an iso-quant represents:
- The fixed cost of a firm:
- In perfectly competitive markets, the profit maximization rule can be represented by:
- In the case of a normal goods, the income effect:
- The good will highest income elasticity is:
- When total product (TP) is maximum:
- Which one of the following is also known as Plant Curves:
- The proportional demand curve in monopolistic competition (also in kinked demand curve model), is like…