All of the consumer surplus
All of the producer surplus
Some part of the consumer surplus
None of them
C. Some part of the consumer surplus
Prof. Robbins
Alfred Marshal
Prof. Senior
Adam Smith
Proportional demand curve (PDC) and individual demand curve (IDC) intersect each other
Proportional demand curve (PDC) and individual demand curve (IDC) are parallel to each other
Proportional demand curve (PDC) and individual demand curve (IDC) repel each other
None of the above
Falling when average cost is falling
Rising when average cost is falling
Falling when average cost is rising
Rising when average cost is rising
Market price
AVC
TFC
AFC
Greater than one
Equal to one
Less than one but more than zero
None of the above
Move to another indifference curve
Move along given indifference curve
Move to lower indifference curve
Move to upper indifference curve
Cost of raw materials
Cost of equipment
Interest payment on past borrowing
Payment of rent on buildings
Fixed cost
Variable cost
Both fixed and variable costs
None of the above
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
Borne mostly by producers
Borne mostly by consumers
Borne mostly by government
Shared equally by producers and consumers
Is equal to the substitution effect
More than offsets the substitution effect
Reinforces the substitution effect
Only partially offsets the substitution effect
Increasing returns to scale
Decreasing returns to scale
Constant returns to scale
Variable returns to scale
human welfare
national income
multiplicity of wants and scarcity of resources
theory of production
Due to change in price while other factors remain constant
Due to change in factors other than price
Both a and b
None of the above
Equal level of output
Unequal level of outputs
Equal level of inputs
Unequal level of inputs
At different points
At the falling parts of each
At their respective minimums
At the rising parts of each
Negative
Positive
Infinite
Zero
Equal to zero
Equal to one
Equal to infinite
More than one
Beef
Mutton
Bread
Motion-picture tickets
Social ownership of the means of production
Freedom of enterprise
Use of centralized planning
Government decisions
Input prices
Technological innovations
Both of them
None of them
Immediate-run decision
Market period decision
Short-run decision
Long-run decision
Highly elastic
Perfectly inelastic
Perfectly elastic
Zero elastic
Increase in demand for Y
Decrease in demand for Y
Increase in demand for both X and Y
Increase in demand for Y
Differentiated goods
Homogeneous goods
Advertised goods
Distress sale of goods
Shifts rightward
Shifts leftward
Does not shift
None of the above
Less than one
Equal to one
More than one
Equal to infinity
Fixed factors
Variable factors
Both of them
None of them
Get steeper
Shift parallel to right
To get flatter
To shift upward
Many buyers and many sellers
One seller, many buyers
One buyer, many sellers
Few sellers, many buyers