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In microeconomics, we study:

A. Aggregates of the economy

B. Few units of the economy

C. Large units of the economy

D. Individual units of the economy

Correct Answer : D.


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  1. A normal profit is:
  2. The Input-Output Analysis was originated by:
  3. Abstinence or Waiting theory of Interest was presented by:
  4. Any expansion in output by a firm in the short period will always reduce the:
  5. Using total revenue and total cost, a profit maximizing firm will be equilibrium at a point:
  6. If money income is given then consumer is in equilibrium when:
  7. When there is decrease in demand the demand curve:
  8. In perfect cartel, the:
  9. Average cost means:
  10. The total utility is gained by consuming:
  11. According to marginalistic rule, the profit maximization hypothesis requires:
  12. The least cost combination of factors x , y and z will generally be the point at which:
  13. The slope of an iso-quant represents:
  14. Cross-elasticity of demand or cross-price elasticity between two perfect substitutes will be:
  15. The expansion point is attained by joining:
  16. In the short-run, in which one of the following situations would a competitive seller close down (shut-down)?
  17. The average fixed cost (AFC) curve is asymptote to:
  18. Which of the following does not have a uniform elasticity of demand at all points?
  19. When a consumer is satisfied with his spending pattern, he is said to be in:
  20. An economic theory is :
  21. In the real world, some competitive firms owns specialized resources that earn a return called:
  22. The slope of the iso-cost line (budget line) is determined by:
  23. Who stated explicitly for the first time the Law of Camparative Costs?
  24. At high prices, demand is likely to be:
  25. Total costs in the short-term (short-run) are classified into fixed costs and variable costs. Which…
  26. The firm is said to be in equilibrium when the difference between revenue and cost is:
  27. In monopolistic competition, the firm take advantage due to customers:
  28. The cost that a firm incurs in purchasing or hiring any factor of production is referred to as:
  29. In monopolistic competition, the firms face:
  30. The main contribution of Malthus is in the field of: