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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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  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…
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  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: