Not different
Same
Not same
Zero
C. Not same
Modern and traditional industries
Public and private sectors
Foreign and domestic investments
Commercial and subsistence farming
Exact science
Inexact science
Pure science
All of the above
R.Nurkse
N.Kaldor
S.kuznets
Alfred Marshal
Economic substitutes
Technical substitutes
Both a and b
None of the above
Of the last unit of production
Of marginal unit
Of marginal efficient units
Of the average units of production
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
Increasing sales and maximizing profits
Reducing sales and raising prices
Minimizing cost and maximizing revenue
Serving the markets without earning profits
K.N.Raj
Amartiya Sen
A.C.Pigou
Alfred Marshal
U = x1 x2
U = x1 + x2
U = y1 +x1
U = x1.x2
We do not need to attach util values to consumption
Consumers can attain higher utility
It takes into account how much income the household has
We can determine how much of one good the consumer is willing to sacrifice in order to consume one more unit of another
Lead to greater specialization
Offsets the effects of the law the law of comparative advantage
Lead to greater diversification of individual production
Cause firms to use more capital and less labor
Budget line and indifference curve intersect each other
Budget line and indifference curve are tangent to each other
Budget line and indifference curve are opposite to each other
Budget line and indifference curve are parallel to each other
Can be added
Can be subtracted
Can be multiplied
Can be divided
V-shaped selling cost
U-shaped selling cost
V-shaped purchasing material
U-shaped purchasing material
Substitution Effect
Income Effect
Both substitution and income effect
None of them
Close substitutes are available
It has a high price
It is a luxury
It has no very close substitutes
Q = f(L)
U =f(X)
Q =f(K)
Q =f(L,K)
Ed = AR/ (AR- MR)
Ed = MR/ (AR-MR)
Ed = AR/(MR-AR)
Ed = AR/ MR
Constant average cost
Diminishing cost per unit of output
Optimum use of capital and factor
External economies
Is a disequilibrium price
Is an equilibrium price
Means a shortage exists as a market is cleared
Must be set by the government
Maximum
Zero
Minimum
Equal to one
Physical units
Monetary units
Constant units
Current units
A commodity without substitutes
A commodity with substitutes
A commodity on which a small fraction of income is spent
A commodity the use of which cannot be postponed
Parallel to each other
Dependent upon each other
Independent of each other
Zero
Timeless phenomenon
Short run phenomenon
Long run phenomenon
None of the above
Each player has a dominant strategy
No players have a dominant strategy
At least one player has a dominant strategy
Players may or may not have dominant strategies
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
Consumer tastes
Prices of inputs
Technology
Number of sellers
Isoprofit curve
Super profit curve
Normal profit curve
Indoprofit curve
Loss because of past
Learn from past
Destroy because of past
None of the above