If the commodities X and Y are perfect complements then:




D. None of the above

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  1. The Law of Proportionality is another name of:
  2. The cost of production is faced by a:
  3. Average cost curve contains in it:
  4. In the long-run competitive equilibrium, the theory predicts that:
  5. If Marginal Utility (MU) is zero, then total utility is:
  6. In real life, brand loyalty is a barrier to:
  7. According to Cobb-Douglas, in production function the marginal product of labor is:
  8. If the factors have to be employed in a fixed ratio, then the elasticity of substitution under Leontief…
  9. When the slope of a demand curve is infinite (also known as horizontal demand curve) then elasticity…
  10. Which is not a central problem of an economy?
  11. Each short run average cost curve:
  12. Money spent by a firm on the purchase of capital equipment is:
  13. Dumping is international discriminating:
  14. Who first used the term Quasi-Rent?
  15. In dominant price leadership model, the dominant firm set the:
  16. When total product falls:
  17. In perfect competition, the slope of the total revenue curve of a firm is equal to the:
  18. An inferior good/ commodity is inferior for:
  19. Selling costs are incurred under monopolistic competition to:
  20. Human wants are:
  21. The indirect utility function is a homogeneous function of:
  22. A shift in the demand for a product is likely to result from a change in:
  23. The main contribution of Prof. R.G.D.Allen is in the field of:
  24. In economic term water is a:
  25. In the real world, some competitive firms owns specialized resources that earn a return called:
  26. A monopolist will fix the equilibrium output of his product where the elasticity of his average revenue…
  27. If there are many producers, each of whom has an individual production possibility curve, then the lowest…
  28. Each firm in cournot model can:
  29. The Purchasing Power Parity (PPP) Theory is presented by:
  30. Diseconomies of management lead to: