A and B are substitute goods
A and B are complementary goods
A is inferior to B
A is superior to B
A. A and B are substitute goods
Appear
Diminish
Prominent
Increase
Increase in demand for Y
Decrease in demand for Y
Increase in demand for both X and Y
Increase in demand for Y
identical
differential
very high
very low
Gaming
Strategic decisions
Both a and b
None of the above
Increase at decreasing rate
Increase at constant rate
Decrease at increasing rate
Increase at increasing rate
Economic substitutes
Technical substitutes
Both a and b
None of the above
1/2 of the total market demand
1/4 of the total market demand
1/3 of the total market demand
None of the above
More elastic
Less elastic
Unit elastic
Zero elastic
Consumers get better quality goods
Cost of production falls and hence price will follow
Goods will be sold in many markets
None of the above
All of the consumer surplus
All of the producer surplus
Some part of the consumer surplus
None of them
Led the Russian Revolution
Provided the theoretical basis for socialism(communism)
Developed his theory in response to the Great Depression of the 1930s
None of the above
Wicksell
Robert San
Ruskin
J.B.Say
Operating under diminishing cost
Making optimum use of plant capacity
Operating at excess capacity
Operating under increasing costs
Helps in separating the income effect and the substitution effect
Does not help in separating the two effects
Mixed up the two effects
None of the above
The law of comparative advantage
The law of diminishing returns
The principle of substitution
Economics of large scale production
Individual demand curve (IDC) is equal to proportional demand curve (PDC)
Individual demand curve (IDC) is greater than proportional demand curve (PDC)
Individual demand curve (IDC) is less than proportional demand curve (PDC)
None of the above
Capital labor ratio
Labor wage ratio
Factor price ratio
Factor labor ratio
Consumer tastes
Prices of inputs
Technology
Number of sellers
Negative
Positive
Infinite
Zero
Both move together and reinforce each other
One moves and the other remains constant
Move in the opposite direction and neutralize each other
Both remain constant
Product markets
Factor markets
Supply and demand
a, b and c
Equal
Different
Zero
Infinity
The operation of increasing cost
The existence of fixed cost
The existence of variable cost
All of the above
Variety of uses for that commodity
Its low price
Close substitutes for that commodity
High proportion of the consumers income spent on it
Better off
Worse off
Neither better nor worse off
None of the above
1st firm does not cooperate
1st firm cooperates
1st firm collapses
None of the above
Sunspot Theory
Monetary Theory
Saving-Investment Theory
Innovation Theory
Similar choices
Unlimited choices
Differential choices
Few choices
More than AC curve
Less than AC curve
Equal to AC curve
None of the above