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In the case of an inferior commodity, the income-elasticity of demand is:

A. Positive

B. Unitary

C. Negative

D. Infinity

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  1. Human wants are:
  2. In Bertrand model, the entry of new firms is:
  3. If two goods are perfect substitutes then IC will be:
  4. The kinked demand curve comes into being where:
  5. A market demand curve presumes that:
  6. Supply curves are most elastic:
  7. Implicit costs are the costs:
  8. As the price of diamond is higher, so it has:
  9. Total costs in the short-term (short-run) are classified into fixed costs and variable costs. Which…
  10. Cross-elasticity of demand or cross-price elasticity between two substitutes will be:
  11. If a new production technology for producing compact discs is developed and new firms are attracted…
  12. The costs faced by the firm against variable factors are:
  13. The act of producing the output from more than one plant is concerned with:
  14. The Cambridge School of Thought refers to the group of English economists who came under the influence…
  15. In real life, brand loyalty is a barrier to:
  16. In case of monopoly:
  17. If a straight line supply curve passes through the point of origin O, the elasticity of supply is:
  18. In the modern theory of costs, the level of production which the firm considers feasible is known as:
  19. Consumers Surplus can also be defined as:
  20. A demand curve is not related to:
  21. Money spent by a firm on the purchase of capital equipment is:
  22. The indifference curve technique:
  23. An individual consumers demand is not determined by:
  24. The good will highest income elasticity is:
  25. Each short run average cost curve:
  26. The longer the period of time, the elasticity of supply will be:
  27. A profit-maximizing monopolist in two separate markets will:
  28. In case of monopoly, both AR and MR fall, but MR falls:
  29. According to Marshal, the Law of Diminishing Returns is applicable to:
  30. In discriminating monopoly (price discrimination), the cost of production in two markets are: