the individuals
industry
firms
associations
C. firms
Loss because of past
Learn from past
Destroy because of past
None of the above
MR is positive
MR falls
MR rises
MR is zero
Decreases
Increases
Remains constant
Zero
Positive
Unitary
Negative
Infinite
Zero elasticity
An elasticity greater than one
Unitary elasticity of supply
An elasticity less than one
Increase at a constant rate
Decrease at a constant rate
Increase at a variable rate
Decrease at a variable rate
Convex to the origin
Slopes downwards to the right
Parallel to each other
Cannot intersect each other
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
Always
Never
When LAC is falling
Only at that level of output when LAC is at its minimum
Productive resources such as labor and capital equipment that firms use to manufacture goods and services are called inputs or factors of production
Unproductive resources that do not take part in production process are called inputs or factors of production
Firms own resources are called inputs or factors of production
None of the above
Upward sloping
Downward sloping
Constant in slope
None of the above
Where marginal cost is minimum
Where average cost is minimum
Where both the marginal and the average cost curves are at their respective minimum
Where the firm earns the maximum profits
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
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
Short period of time
Long period of time
Timeless production relationship
All 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
R.Nurkse
R.C.Mathews
W.A.Lewis
K.N.Raj
The consumers real income has increased
The consumers real income has decreased
The product is now relatively less expensive than before
Other products are now less expensive than before
A downward sloping straight line
A downward sloping curve
An upward rising curve
Right angled iso-quants
Its total cost will be zero
Its variable cost will be positive
Its fixed cost will be positive
Its average cost will be zero
The greater its elasticity is likely to be
The weaker its elasticity is likely to be
The unchanged its elasticity is likely to be
None of the above
Unstable
Stable
Variable
Fluctuating
Monopoly
Multi-plant monopoly
Bilateral monopoly
Price discrimination
Both parties make better-off
Both parties make worse-off
Both parties become Neutral
Both parties can become better off or worse off
Zero
Its total fixed cost
Its total variable cost
Equal to one
face costs
face taxes
donot face taxes
donot face costs
Horizontal
Vertical
Positively sloped
Negatively sloped
Move to another indifference curve
Move along given indifference curve
Move to lower indifference curve
Move to upper indifference curve
Developed economy
Laissez-fair economy
Mixed economy
Capitalistic economy
Price demanded and price paid
Price quoted and price actually paid
Price that a consumer is willing to pay and the price actually paid
None of the above