Giffen goods
Necessities
Luxuries
Prestige goods
B. Necessities
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
A rise in the price of the product
A decrease in the demand for the product
A decrease in the supply of the product
An increase in the quantity supplied of the product
Constant
Less elastic
More elastic
Perfectly elastic
A fall in price
A decrease in the number of firms in the long-run
A decrease in the output of each firm
All of the above
Labor is variable
Labor is fixed
Capital is variable
None of the above
Negatively sloped
Positively sloped
Parallel to X-axis
None of the above
Different
Similar
Opposite
None of the above
Made by agency
Not made by agency
Made by people
None of the above
J.S.Mill
Adam Smith
Robert Malthus
David Ricardo
Industry
All fields of production
Agriculture
None of the above
Price of the commodity
Conditions of supply
Taste of the consumer
Demand for the commodity
The law of diminishing marginal utility
The law of demand
The Law of Diminishing Returns
The law of supply
Total cost or total variable cost
Total explicit cost
Total fixed cost
Total implicit cost
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
Rising cost
Falling cost
Rising input
Falling input
Increasing returns to scale
Decreasing returns to scale
Constant returns to scale
Variable returns to scale
Monopoly
Monopolistic competition
Perfect competition
Any market form
Product similarity
Product differentiations
Product inferiority
None of the above
Reduces its revenues
Increases its revenues
Can sell nothing
None of the above
Monopoly
Multi-plant monopoly
Bilateral monopoly
Price discrimination
Lowering the price, if the demand curve is elastic
Lowering the price, if the demand curve is inelastic
Rising the price, if the demand curve is elastic
None of the above is applicable
The average fixed cost is covered
The average variable cost is covered
Some profit is earned
The entrepreneurs enjoy producing
Research in mathematical economics
Economics of labor
Theory of production
Theory of demand
Of the last unit of production
Of marginal unit
Of marginal efficient units
Of the average units of production
Alfred Marshal
Adam Smith
Karl Marx
George Stigler
true
not true
reliable
deniable
Downward
Upward
Horizontal
Straight line
Led the Russian Revolution
Provided the theoretical basis for socialism(communism)
Developed his theory in response to the Great Depression of the 1930s
None of the above
A function of price alone
A result of change in tastes
A result of increase in the size of the family
None of the above
Real cost and money cost
Variable cost and fixed cost
Average cost and average revenue
Marginal cost and average cost