The incomes of consumers
The price of the good
What other commodities households could substitute for the good
Consumers expectations of the future
B. The price of the good
The operation of increasing cost
The existence of fixed cost
The existence of variable cost
All of the above
Linearly homogeneous
Zero homogeneous
Infinite homogeneous
None of the above
Concave to X-axis
Convex to X-axis
Concave to Y-axis
Convex to Y-axis
Price
Output
Cost
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J.P.Lewis
R.G.D.Allen
Paul A.Samuelson
E.D.Domar
Constant returns to scale
Increasing returns to scale
Decreasing returns to scale
None of the above
In the short-run under perfect competition
In the long-run under perfect competition
In the short-run under monopolistic competition
In the long-run under monopolistic competition
W.W. Leontief
E.D.Domar
R.G.D.Allen
J.M.Keynes
Convex to the origin
Slopes downwards to the right
Parallel to each other
Cannot intersect each other
A specific duration of time
A varying duration of time
A duration of time which permits necessary adjustments
A period with calculated intervals
David Ricardo
Adam Smith
James Mill
A.C.Pigou
output
input
price
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Excess capacity
Reserve capacity
Limited capacity
None of the above
Which are not incurred by the firm and may accrue to the community
Of resources the cost of factors owned by the firm
Of resources supplied by the household
Of government externalities
Q = f(L)
U =f(X)
Q =f(K)
Q =f(L,K)
He should be condemned
He may lose his respect from society
He should be punished
He should not be punished or even criticised
Applies on both money and other commodities
Does not apply on money
Does not apply on bank money but applies on cash money
Applies on all the commodities except on money
No distinction between firm and industry
One firm and no industry
No firm and no industry
None of the above
None of the factors are variable in the long-run
All factors are perfectly divisible in the long-run
None of the factors is divisible
Management factor is indivisible while all other factors are divisible and can be varied in long-run
Conditional
Moral by nature
Predicted
Like laws of sports
Positive
Unitary
Negative
Infinite
Due to change in price while other factors remain constant
Due to change in factors other than price
Both a and b
None of the above
More purchase
Less purchase
Same purchase
None of the above
An increase in demand
A decrease in demand
An increase in supply
A decrease in supply
They yield higher total utility
They yield higher marginal utility
They are more useful
None of the above
Operating under diminishing cost
Making optimum use of plant capacity
Operating at excess capacity
Operating under increasing costs
Separately in different cells
Collectively in different cells
Collectively in same cell
Separately in same cell
Utility effect
Budget line effect
Substitution effect
Income effect
Industrialists
Prisoners
Common men
Workers
More units
Less units
Same units
Zero units