In sweezy model (kinked demand curve model), the overall increase in costs of production:

A. Do not effect equilibrium

B. Affect equilibrium

C. Both a and b

D. None of the above

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  1. Demand for a commodity is elastic when it has
  2. Marshallian approach is also known as:
  3. If X and Y are close substitutes, a fall in price of X will lead to:
  4. The isoquant approach is:
  5. If the commodity is inferior then:
  6. In substitution effect and income effect:
  7. Opportunity costs are also known as:
  8. The firm in cournot model:
  9. The equilibrium conditions, MC = MR = AR = AC, will happen:
  10. If we measure the elasticity of demand with the help of the average and marginal revenue, the formula…
  11. If the supply curve is not a straight line but curvilinear, the elasticity on all points of the supply…
  12. The isoquant which are generated by CES (constant elasticity of substitution) production function are…
  13. In Prisoner Dilemma, the best choice of strategy is:
  14. Production function shows:
  15. We can find total utility by:
  16. According to Diamond Water Paradox diamonds are more expensive than water because:
  17. In discriminating monopoly (price discrimination), the elasticity of demand of product in two markets…
  18. In monopolistic competition, if a firm lowers its price, the rival firms will:
  19. If the price of a product falls then quantity demanded tends to increase ceteris paribus because:
  20. If the price of a product falls which of the following would occur?
  21. Capital Saving Technological Progress can be defined as:
  22. If a straight line supply curve makes an intercept on the Y-axis, elasticity of supply is:
  23. If the marginal utility is divided by the price of the commodity then it is called:
  24. Diseconomies of management lead to:
  25. The demand curve slopes downwards due to:
  26. Price-taker firms:
  27. Contracts made by firms in cooperative games are:
  28. Economic laws are:
  29. A firm enjoys maximum control over the price of its product under:
  30. The number of sellers in oligopoly are: