An externality is a cost or benefit which is not transmitted through prices
An externality is a cost or benefit which is transmitted through prices
An externality is a production received through external resources
None of the above
A. An externality is a cost or benefit which is not transmitted through prices
The price of the commodity
The time period
The price of substitutes
Any of the above
Guides most resource allocation decisions
Operates effectively only in the labor market
Operates effectively only in the market for capital
Is prevented from operating effectively
K.N.Raj
Amartiya Sen
A.C.Pigou
Alfred Marshal
Constant
Less elastic
More elastic
Perfectly elastic
Functional relationships
Family relationships
Economic position
Stagnant relationships
Multiplying the number of unit by its marginal utility
Adding up the marginal utility of all units
Multiplying price by number of units
None of the above
Vertical summation of individual demand curves
Upward summation of individual demand curves
Downward summation of individual demand curves
Horizontal summation of individual demand curves
Product costs
Real costs
Menu costs
Nominal costs
Prices of products are assumed to be fixed
The consumer need not to spend all his income
Consumer income is assumed to be fixed
The slope represents relative prices
A and B are substitute goods
A and B are complementary goods
A is an inferior good
B is an inferior good
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
X-axis
Y-axis
Z-axis
None of the above
Product markets
Factor markets
Supply and demand
a, b and c
Marginal cost curve
Average variable cost curve
That part of the marginal cost curve which equals or is greater than AVC
Average total cost curve
Income-expenditure relationship
Income-cost relationship
Income-price relationship
Income-quantity relationship
From different groups of consumers
For different uses
At different places
Any of the above
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
He will consume only one of them
He will consume equal quantities of them
He will be willing to pay the same price for each of them
The total utility gained from each of them is equal
Money
Capital resources
Scarcity
Inflation
His output is maximum
He charges a high price
His average cost is minimum
His marginal revenue is equal to marginal cost
Total utility will increase by 6 units
The marginal utility per rupee is 6
The consumer will buy more because marginal utility is positive
The consumer obtained an extra54 units
Technological progress that causes to raise the marginal product of capital and labor in the same proportion
Technological progress that causes the marginal product of capital to increase relative to the marginal product of labor
Technological progress that causes the marginal product of labor to increase relative to the marginal product of capital
None of the above
Monetary units
Physical units
Relative units
Constant units
Normal profits
Implicit costs
Variable costs
Opportunity costs
L/K ratio
K/L ratio
P/L ratio
P/K ratio
Smith
Kaldor
Sraffa
Marshal
All buyers and sellers have perfect knowledge of the market
Freedom of entry of firms into the industry
Homogeneous product
All of the above
Enforce contracts
Make contracts
Make negotiations
Do not make negotiations
Will mainly paid by sellers of the product
By mainly paid by cigarette smokers
Be mainly paid by tobacco growers
None of the above
Increases
Remains the same
Diminishes
Zero