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Labor Saving Technological Progress can be defined as:

A. Technological progress that causes to raise the marginal product of capital and labor in the same proportion

B. Technological progress that causes the marginal product of capital to increase relative to the marginal product of labor

C. Technological progress that causes the marginal product of labor to increase relative to the marginal product of capital

D. None of the above

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  1. In sweezy model (kinked demand curve model), the overall increase in costs of production:
  2. Pure monopoly exists:
  3. The Modern and Neo-Keynsian Theory of Interestwas presented by:
  4. The maximization of output subject to cost requires equilibrium at the:
  5. Under the perfect competition, the transportation cost:
  6. The main contribution of Prof. R.G.D.Allen is in the field of:
  7. In income effect, we:
  8. Utility is a function of:
  9. In short run, a firm would remain in business as long as which one of the following of cost is covered?
  10. The budget constraint can be written as:
  11. In case of monopoly, the slope of MR is:
  12. In monopolistic competition, the customers are attached with one product because of:
  13. A monopolist is:
  14. Which industries spend a relatively large share of their revenue on research and development in order…
  15. In collusive olligopoly, the firms may make:
  16. A good tends to have relatively inelastic demand, if:
  17. In real life, brand loyalty is a barrier to:
  18. Classical production function is:
  19. Who wrote Economics of Imperfect Competition?
  20. Under the law of variable proportions, the average and the marginal product of the variable factor would…
  21. Contraction of demand means:
  22. At a point above the middle of a straight line demand curve, elasticity of demand is:
  23. The difference between average total cost and average fixed cost shows:
  24. The demand of the luxuries is:
  25. The number of sellers in oligopoly are:
  26. In monopolistic competition, the firm compete on the basis of:
  27. The general markets results from the imposition of price ceilings has been:
  28. Opportunity costs are also known as:
  29. For the equilibrium of the firm and the industry in the short period in a competitive market, the condition…
  30. If Cobb-Douglas production function is homogeneous of degree greater than one (n>1), then it shows: