A given quantity of output that can be produced by various combinations of two inputs
Varying quantities of output that can be produced by the same combination of two factors
Combination of two factors that can give the least cost of production
Combination of two goods that cost the same amount to the producer
A. A given quantity of output that can be produced by various combinations of two inputs
Industry
All fields of production
Agriculture
None of the above
Move to another indifference curve
Move along given indifference curve
Move to a higher indifference curve
Move to a lower indifference curve
Falling when average cost is falling
Rising when average cost is falling
Falling when average cost is rising
Rising when average cost is rising
Restrict output to increase price
Produce where MC > P
Create a gap b/w quantity demanded and supplied
None of the above
From different groups of consumers
For different uses
At different places
Any of the above
Downwards to the right
Upwards to the right
Backwards to the top
Inwards at the bottom
Firms and industry price
Monopoly and duopoly price
Competitive and monopoly price
None of the above
MC = AC and P=MR
MC=MR and P =AR= ATC
% change in quantity demanded % change in income
% change in income % change in quantity demanded
Change in income Change in quantity demanded
None of the above
Perfect elastic (infinitely elastic)
Relatively elastic (greater than one elasticity)
Unit elastic
Relatively inelastic (less than one elasticity)
Maximum
Minimum
Zero
One
Similar choices
Unlimited choices
Differential choices
Few choices
Quantity exchanged might rise or fall and price would rise
Quantity exchanged would rise and price would fall
Quantity exchanged would rise and price might rise or fall
Both quantities exchanged and price would rise
Neo-classical economist
Classical economist
Keynesian economist
Post-Keynesian economist
Face losses
Avoid losses
Bear losses
Make economic decisions
Increasing returns to scale
Decreasing returns to scale
Constant returns to scale
Variable returns to scale
Better off
Worse off
Neither better nor worse off
None of the above
Move to another indifference curve
Move along given indifference curve
Move to lower indifference curve
Move to upper indifference curve
Better off
Worse off
In equilibrium
Neither better off nor Worse off
x =a-bp
x =b-ap
x = f(P)
More than maximum output
More than minimum output
Less than maximum output
Less than minimum output
Distribution
Exchange
Market structure
Consumer behaviour
Consumers prefer to have less satisfaction than more of both commodities
As more and more of one commodity is obtained, less and less of the other must be given up to keep satisfaction constant
The total satisfaction obtained along an indifference curve decreases at an increasing rate
None of the above
Increasing returns to scale
Decreasing returns to scale
Constant returns to scale
Variable returns to scale
Indifference curves shift down
Budget line shifts down
Indifference curve shift up
Budget line pivots
P.E = S.E + I.E
S.E = P.E +I.E
I.E = P.E +S.E
S.E = P.E +2I.E
X.PX + Y.PY = 1
X.PX + Y.PY < 1
X.PX + Y.PY > 1
X.PX + Y.PY = 0
Can enter and exit
Partially can enter and exit
Cannot enter
None of the above
Hand of God
Market self regulating system
Hands of invisible people
Regulations of government
Where the gap between the two is the smallest
Where the gap between the two is the greatest
Where the two become equal
None of the above