The productivity of factors of production
The relation between the factors of production
The economies of scale
The relations between change in physical inputs and physical output
B. The relation between the factors of production
Functional relationships
Family relationships
Economic position
Stagnant relationships
Banned
Free
Partially free
Allowed
Income effect(I.E)
Substitution effect(S.E)
Taste effect
Both a and b
R.G.D.Alien
J.R.Hicks
A.C.Pigou
None of the above
Tangent to the lowest isoquant
Tangent to the given isoquant
Above the given isoquant
Below the given isoquant
Lower price in order to increase revenues
Lower price in order to decrease the amount of oil sold
Rise price in order to increase the amount of oil sold
Raise price in order to increase revenues
Straight line
Convex to origin
Concave to origin
Lshaped
All buyers and sellers have perfect knowledge of the market
Freedom of entry of firms into the industry
Homogeneous product
All of the above
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
The AVC curve
The AFC curve
The AC curve
The MC curve
Is also same
Is different
Is constant
Is zero
MRS
MRT
MRTS
MRPS
LAC = LMC
SAC = LMC
SAC =MC
SAC =LAC
Can be added
Can be subtracted
Can be multiplied
Can be divided
MR>AR
MR=AR
AR=0
Equal to one
Less than one
Equal to zero
Equal to infinite
Price is a dependent variable and quantity is an independent variable
Price is an independent variable and quantity is a dependent variable
Price and quantity both are independent variables
Price and quantity both are dependent variables
Inelastic demand in foreign markets
Elastic demand in foreign markets
Unit elastic demand in foreign markets
None of the above
Concave isoquant
Convex isoquant
Constant isoquant
None of the above
Normal profits
Abnormal profits
No profits
All of the above
Double to that of AR
1/2 to that of AR
2/3 to that of AR
Four times to that of AR
Income rises
Income falls
Sales rises
Price falls
Different prices are charged to different consumers for homogenous products
Same prices are charged for differentiated products
Different prices are charged for homogenous goods for successive units to the same customer
Any of the above condition is present
1910
1945
1900
1940
Individual demand curve (IDC) is equal to proportional demand curve (PDC)
Individual demand curve (IDC) is greater than proportional demand curve (PDC)
Individual demand curve (IDC) is less than proportional demand curve (PDC)
None of the above
The law of comparative advantage
The law of diminishing returns
The principle of substitution
Economics of large scale production
Real cost and money cost
Variable cost and fixed cost
Average cost and average revenue
Marginal cost and average cost
Adam Smith
David Ricardo
Alfred Marshal
A.C.Pigou
Input factor
Heavy factor
Output factor
Load factor
Directly related
Unrelated
Closely related
Negatively related