They must consume the same amounts of all goods
The wealthier one will have lower marginal utility for most goods
The wealthier one will have higher marginal utility for most goods
They will enjoy the same level of utility
B. The wealthier one will have lower marginal utility for most goods
Positive Economics
Normative Economics
Micro Economics
Development Economics
Monopoly
Perfect competition
Imperfect competition
Monopolistic competition
Ranked
Consumed
Expressed in numbers
Cannot be expressed in numbers
More than maximum output
More than minimum output
Less than maximum output
Less than minimum output
Monopoly
Perfect competition
Oligopoly
Monopolistic competition
Production cost
Physical cost
Real cost
Opportunity cost
The greater its elasticity is likely to be
The weaker its elasticity is likely to be
The unchanged its elasticity is likely to be
None of the above
Similar choices
Unlimited choices
Differential choices
Few choices
monopolistic firms
monopoly
competitive firms
none of the above
Zero (perfectly inelastic)
Equal to one (unitary elastic)
Infinite (perfectly elastic)
None of the above
Maximizes the minimum gain that can be earned
Maximizes the gain of one player, but minimizes the gain of the opponent
Minimizes the maximum gain that can be earned
None of the above
not ignor the activities of the rival
ignor the activities of the rival
both a and b
none of the above
Fixed factors
Variable factors
Both of them
None of them
Downward
Upward
Horizontal
Straight line
Consumer
Producer
Farmer
All the producers and consumers
Also decrease it
Increase it
Remain uneffected
None of the above
identical
differential
very high
very low
One
Zero
Two
Five
Labor is variable
Labor is fixed
Capital is variable
None of the above
Total utility to fall and marginal utility to increase
Total utility and marginal utility both to increase
Total utility to fall and marginal utility to become negative
Total utility to become negative and marginal utility to fall
Classical economists
Keynes
Neo-classical economists
Karl Marx
Economic substitutes
Technical substitutes
Both a and b
None of the above
Allocation of resources of the economy as between production of different goods and services
Determination of prices of goods and services
Behavior of industrial decision makers
All of the above
Income level
Satisfaction level
Marginal rate of substitution
Demand level
Thousands
Few
Innumerable
Hundreds
Equal to the slope of budget line
Greater than the slope of budget line
Smaller than the slope of budget line
Parallel to the slope of budget line
A downward sloping straight line
A downward sloping curve
An upward rising curve
Right angled iso-quants
U
V
P
S(inverted)
The elastic part of a demand curve
The inelastic part of a demand curve
The constant elastic part of the demand curve
None of the above
stable cartel
unstable cartel
prominent cartel
special cartel