If the commodity is normal then Income Effect (I.E) is:

A. Negative

B. Positive

C. Zero

D. Infinite

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  1. The line from the origin to a point on an isoquant shows:
  2. In the case of substitutes, the cross demand curve slopes
  3. The modern cost curves are based upon the idea of:
  4. Which of the following formula determine the income elasticity of demand?:
  5. Economies of large-scale production:
  6. In Recardian theory of value, the stress has been made on:
  7. In modern theory, LAC = LMC after the attainment of:
  8. The concept of period refers to:
  9. LMC represents change in LTC (long-run total cost) due to producing an additional unit of a good while…
  10. In monopolistic competition, if a firm lowers its price, the rival firms will:
  11. According to Cobb-Douglas, in production function the marginal product of labor is:
  12. Economics define technology as:
  13. In the range of excess capacity, the average costs are:
  14. The isoquant which are generated by CES (constant elasticity of substitution) production function are…
  15. Demand is elastic when the coefficient of elasticity is:
  16. The Input-Output Analysis was originated by:
  17. When at a given price, the quantity supplied of a commodity is more than the quantity demanded, there…
  18. Repetition of a game (Repeated Game):
  19. In short run, a firm can change its:
  20. Supply and demand changes have their most rapid impact in:
  21. In discriminating monopoly (price discrimination), the elasticity of demand of product in two markets…
  22. Of the following commodities, which has the lowest price-elasticity of demand?
  23. In non-constant sum game (non-zero sum game), if there are two parties then:
  24. Under which of the following forms of the market structure does a firm have no control over the price…
  25. The costs faced by the firm against variable factors are:
  26. In context of oligopoly, the kinky demand curve (kinked demand curve) hypothesis is designed to explain:
  27. Isocost line shows the combinations of labor and capital where a firms budget is:
  28. Which of the following models are associated with non-collusive oligopoly?
  29. If a firm produces zero output in the short period then which statement is true?
  30. The monopolist often lead to exploitation of: