The substitution effect is more certain
The income effect is more certain
The substitution effect is uncertain
The income effect is always positive
A. The substitution effect is more certain
Desire for them
Purchases
Production
Consumption
Analyst
Catalyst
Pessimist
Optimist
Capital labor ratio
Labor wage ratio
Factor price ratio
Factor labor ratio
Lessen the differentiation
Widen the differentiation
Does not effect the differentiation
All of the above
The change in price
The change in supply
The percentage change in supply
The percentage change in price
Few economic agents
All the economic agents
Two economic agents
Many economic agents
Variety of uses for that commodity
Its low price
Close substitutes for that commodity
High proportion of the consumers income spent on it
Ed = AR/ (AR- MR)
Ed = MR/ (AR-MR)
Ed = AR/(MR-AR)
Ed = AR/ MR
Preferences
Income
Prices
Consumption
An inferior good
A giffen good
A normal(or superior) good
None of the above
Zero (perfectly inelastic)
Equal to one (unitary elastic)
Infinite (perfectly elastic)
None of the above
The MU/P ratio has decreased
Of the income and substitution effects
Consumers tend to feel poorer when prices fall
When price falls the demand curve shifts right
Free goods
Economic goods
Luxury goods
None of the above
Maximum
Minimum
Equal
Lower
Equal to the slope of budget line
Greater than the slope of budget line
Smaller than the slope of budget line
Parallel to the slope of budget line
Not relevant to elasticity
The only factor determining elasticity
Only one of the factors influencing elasticity
None of the above
Negatively sloped demand curve
Positively sloped demand curve
Horizontal demand curve
Vertical demand curve
N.Kaldor
Alfred Marshal
J.M.Keynes
J.S.Duesenberry
Linearly homogeneous
Zero homogeneous
Infinite homogeneous
None of the above
Both parties make better-off
Both parties make worse-off
Both parties become Neutral
Both parties can become better off or worse off
The real income of consumer falls
The real income of consumer rises
The real income of a consumer remains constant
The real income of consumer becomes zero
S.Chakravarty
J.S.Mill
A.C.Pigou
F.W.Taussig
Production cost
Physical cost
Real cost
Opportunity cost
Marginal cost
Production cost
Labor cost
Supply cost
Zero
Its total fixed cost
Its total variable cost
Equal to one
MRS
MRT
MRTS
MRPS
Decreases
Increases
Remains constant
Zero
An externality is a cost or benefit which is not transmitted through prices
An externality is a cost or benefit which is transmitted through prices
An externality is a production received through external resources
None of the above
Prices of products are assumed to be fixed
The consumer need not to spend all his income
Consumer income is assumed to be fixed
The slope represents relative prices
Constant average cost
Diminishing cost per unit of output
Optimum use of capital and factor
External economies