Productive resources such as labor and capital equipment that firms use to manufacture goods and services are called inputs or factors of production
Unproductive resources that do not take part in production process are called inputs or factors of production
Firms own resources are called inputs or factors of production
None of the above
A. Productive resources such as labor and capital equipment that firms use to manufacture goods and services are called inputs or factors of production
R.G.Lipsey
Paul.A.Samuelson
E.D.Domar
J.M.Keynes
Operating under diminishing cost
Making optimum use of plant capacity
Operating at excess capacity
Operating under increasing costs
Economic profit
Rent
Accounting profit
Normal profit
Inelastic demand
Elastic demand
Unit elasticity
Zero elasticity
Marginal usefulness
Marginal cost
Both of them
None of them
Price takers
Price setters
Price discriminators
None of the above
identical
differential
very high
very low
Independence of firms
Interdependence of firms
Independence of individuals
Interdependence of materials
They yield higher total utility
They yield higher marginal utility
They are more useful
None of the above
Ranked
Consumed
Expressed in numbers
Cannot be expressed in numbers
Decreases
Increases
Remains constant
Zero
More quantity demanded at a lower price
More quantity demanded at a higher price
More quantity demanded at the same price
None of the above
Profit curve
Demand curve
Average cost curve
Indifference curve
fixation of price
Arc elasticity of demand
Cross elasticity of demand
Wage theory
Every firm will earn economic profit
Every firm will incur losses
Every firm will earn only normal profit
The marginal firm will earn no profit
Half utility
Full utility
Additional utility
Multiplied utility
Slope of total utility curve
Slope of average utility curve
Slope of marginal utility curve
Slope of total revenue curve
The incomes of consumers
The price of the good
What other commodities households could substitute for the good
Consumers expectations of the future
When he cannot produce at an economic profit
When price falls short of average variable cost at every level of output
When price falls short of average fixed cost at every level of output
When price falls short of average total cost at every level of output
The law of comparative advantage
The law of diminishing returns
The principle of substitution
Economics of large scale production
Vertical summation of individual demand curves
Upward summation of individual demand curves
Downward summation of individual demand curves
Horizontal summation of individual demand curves
Be similar
Not be similar
Equal
None of the above
L-shaped
U-shaped
V-shaped
Both a and b depending on situation
Where marginal cost is minimum
Where average cost is minimum
Where both the marginal and the average cost curves are at their respective minimum
Where the firm earns the maximum profits
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
Excess capacity
Reserve capacity
Limited capacity
None of the above
That how many utils are obtained from consuming different bundles of commodities
Different collections of two commodities the consumer considers to be of equal value
That if price increases there will be an increases in demand
None of the above
Exact science
Inexact science
Pure science
All of the above
Convex to the origin
Concave to the origin
A straight line
Rising upwards to the right
higher prices
zero prices
lower prices
specific prices