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Karl Marx:

A. Led the Russian Revolution

B. Provided the theoretical basis for socialism(communism)

C. Developed his theory in response to the Great Depression of the 1930s

D. None of the above

Please do not use chat terms. Example: avoid using "grt" instead of "great".

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  1. In short-run, in monopolistic competition, a firm earns:
  2. An indifference curve shows the bundles of two goods among which a consumer remains:
  3. Law of Diminishing Marginal Utility is practically untrue because:
  4. A straight line, downward-sloping demand curve implies that, as price falls, the elasticity of demand:
  5. The monopolist who is producing the same output from two (or more than two) plants is concerned with:
  6. If the increase in demand is more than the increase in supply, the price will:
  7. A high value of cross-elasticity indicates that the two commodities are:
  8. Abstinence or Waiting theory of Interest was presented by:
  9. In the short-run, the competitive firm can maximize its profits (or minimize its losses) by:
  10. In modern theory, LAC = LMC after the attainment of:
  11. The Strategy of Economic Development is the work of:
  12. Production function shows:
  13. Price elasticity of demand is best defines as:
  14. According to Smith, by value we mean the value with respect to use, and the price we mean the value…
  15. An iso-product (an isoquant) curve slopes:
  16. Which is the other name that is given to the average revenue curve?
  17. Demand for a commodity is elastic when it has
  18. Which of the following has more elastic demand curve?
  19. Cross-elasticity of demand is measured as:
  20. In terms of price, the indirect utility function may be:
  21. The total utility (TU) curve is:
  22. Marginal cost curve cuts the average cost curve:
  23. Income-elasticity of demand is expressed as:
  24. If two households have identical preferences but different incomes then:
  25. The cobweb model will divergent when the slope of:
  26. The game theory is concerned with:
  27. Demand of a commodity is elastic when:
  28. In monopolistic competition, the firm take advantage due to customers:
  29. In joint-profit maximization cartel, central agency sets the:
  30. When total product increases at a decreasing rate: