A downward sloping straight line
A downward sloping curve
An upward rising curve
Right angled iso-quants
B. A downward sloping curve
Normal profits
No normal profits
Sometimes normal profits and sometimes no normal profits
Super normal profits
Monopoly
Private property
Workable competition
Oligopoly
Single-plant monopolist
Multi-plant monopolist
Two-plant monopolist
Some-plant monopolist
Price elastic
Price inelastic
Income elastic
Income inelastic
Its total cost will be zero
Its variable cost will be positive
Its fixed cost will be positive
Its average cost will be zero
Pure competition
Pure monopoly
Oligopoly
Monopolistic competition
Positive
Negative
Zero
None of the above
Hand of God
Market self regulating system
Hands of invisible people
Regulations of government
Get noticed by the rival firms
Get unnoticed by the rival firms
Get noticed by the employees of the rival firms
None of the above
LAC = LMC
SAC = LMC
SAC =MC
SAC =LAC
Less than one
Equal to one
More than one
Equal to infinite
N.Kaldor
J.R.Hicks
A.C.Pigou
J.M.Keynes
Slopes downward
Slopes upward
Becomes horizontal
Becomes vertical
Increases
Decreases
Remains the same
Is zero
Is not in equilibrium
Will not buy any banana
Will buy some banana but less than he buys of apples
Is willing to pay more for apples than bananas
The elastic part of a demand curve
The inelastic part of a demand curve
The constant elastic part of the demand curve
None of the above
That each firm can influence the price
No single firm can influence the price
Any single firm can influence the supply condition in the market
Any single firm can influence both supply and price in the market
Alfred Marshal
Adam Smith
J.B.Clark
Hicks, Longe and Durbin
Charges a high price
Produce more output
Increase economic efficiency
None of the above
Cost to input
Wages to profits
Cost to output
Inputs to output
Are downward sloping to the right
Show different input combination producing the same output
Intersect each other
Are convex to the origin
Is always equal to the substitution effect
Completely offsets the substitution effect
Partially offsets the substitution effect
Reinforces the substitution effect
Contraction of demand
Decrease in demand
Increase in demand
Extension of demand
Less quantity demanded at the same price
Less quantity demanded at a higher price
Less quantity demanded at a lower price
None of the above
Input
Output
Both of them
None of them
The demand for soybeans should increase
The supply of soybeans should increase
The demand for soybeans should decrease
The supply of soybeans should decrease
Declining productivity
Increasing consumption
Limited material wants
Limited resources and unlimited wants
banned
allowed
partially allowed
none of the above
Improvements in its technology
Fall in the prices of other commodities
Fall in the prices of factors of production
All of the above
J.S.Mill
Adam Smith
Robert Malthus
David Ricardo