Price and output determination
Price rigidity (price stickness)
Price leadership
Collusion among rivals
B. Price rigidity (price stickness)
Concave to the origin
Convex to the origin
Positively sloped
Negatively sloped
Directly related
Unrelated
Closely related
Negatively related
S.Kuznets
H.Liebenstein
A.O.Hirshman
Alfred Marshal
Excess demand
Qd > Qs
Shortage of supply
All of the above
Cannot be changed
Can be changed
Can partially be changed
None of the above
Extra price benefits
Shortage of quantity
Surplus of quantity
Difference between actual price and potential price
Less quantity demanded at the same price
Less quantity demanded at a higher price
Less quantity demanded at a lower price
None of the above
The operation of increasing cost
The existence of fixed cost
The existence of variable cost
All of the above
The minimum points on all short-run AC curves
The lowest points on the short-run MC curve
The minimum points on the short run AVC curves
It has nothing to do with the short-run cost curves
Rise
Fall
Remain unchanged
Change depending on respective elasticities
Perfectly elastic (infinitely elastic)
Relatively elastic (greater than one elasticity)
Unit elastic
Relatively inelastic (less than one elasticity)
When elasticities of demand in different markets are the same at the ruling price
When elasticities of demand are different in different markets at the ruling price
When elasticities cannot be known
When elasticities of demands are zero in different markets at the rulling price
Fully spent
Half spent
Partially spent
Correctly spent
Are fixed even in the long period
When expressed as an average, show a continuous decline with increase of output
Do not reflect diminishing marginal returns
None of the above
Abnormal profits
Only normal profits
Neither profits nor losses
Profits and losses which are uncertain
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
Input factor
Heavy factor
Output factor
Load factor
Constant returns to scale
Increasing returns to scale
Decreasing returns to scale
None of the above
Optimal factor proportions
Fixed scale of plant
External and internal economies
Labor productivity
Adding up the prices consumers are wiling to pay at each quantity demanded
Multiply each consumers demand curve by the total number of consumers in the market
Adding the quantities denmanded by all consumers at each alternative price
None of the above
Is only one technique of production
Are few techniques of production
Are many techniques of production
Are two techniques of production
Uniform
Different
Dependent
Independent
Utility effect
Budget line effect
Substitution effect
Income effect
The price of the commodity
The time period
The price of substitutes
Any of the above
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
Better off
Worse off
Neither better nor worse off
None of the above
V-shaped traditional cost curves
S-shaped traditional cost curves
Modern cost curves
U-shaped traditional cost curves
Two points on demand curve
Two points on supply curve
Many points on demand curve
Many points on demand curve
Economic combinations of labor and capital
Uneconomic combinations of labor and capital
Both a and b
None of the above
Consuming goods and services
Transforming inputs into outputs
Wasting goods and services
Buying goods and services