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Law of Diminishing Marginal Utility is practically untrue because:

A. It is given to a lot of criticism

B. It is too difficult to be explained

C. It is based on assumptions which are unreal

D. Economists do not agree on this

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

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  1. Who introduced the concept of Elasticity of Demand into economic theory?
  2. Who formulated the Post-Keynsian Theory of Distribution and Growth?
  3. For the equilibrium of the firm and the industry in the short period in a competitive market, the condition…
  4. If the price of a product falls then quantity demanded tends to increase ceteris paribus because:
  5. If the price of Pepsi Cola goes down, you would predict:
  6. As the price of diamond is higher, so it has:
  7. In monopolistic competition, the firms follow:
  8. The game theory was basically presented by:
  9. Identify the factor, which generally keeps the price elasticity of demand for a commodity low:
  10. Normally when price per unit of time falls:
  11. The point on which the average cost is minimum in a firm, short run average cost curve will also be…
  12. If production increases under constant returns to scale, the cost will:
  13. The long run average cost curve is the envelope of:
  14. The cost of firms in cournot model are:
  15. All of the following are capital resources except:
  16. When in a market, the number of buyers is very large and the number of sellers is very small, it is…
  17. If less is demanded at the same price or same quantity demanded at a lower price, it is a case of:
  18. In income effect, we:
  19. All of the following curves are U-Shaped except:
  20. In dominant price leadership model, the small firms are like:
  21. The effect of consumer boycotts usually is:
  22. The engineering production function and engineering costs curves are concerned with the:
  23. Price is measured in:
  24. In Revealed Preference Theory, Samuelson proves P.E = S.E + I.E :
  25. One way the government can induce a monopolist to expand his output is by imposing:
  26. Moving along an indifference curve leaves the consumer:
  27. If the prices of goods rise then:
  28. If a ten percent increase in price causes a ten percent reduction in quantity demanded, elasticity of…
  29. Supply curves are most elastic:
  30. If under perfect competition, in the short period, price does not cover the average cost completely,…