Budget line cuts the isoquant
Budget line is below the isoquant
Budget line is tangent with isoquant
None of the above
C. Budget line is tangent with isoquant
Percentage change in capital-labor ratio dividing by percentage change in
Percentage change in dividing by percentage change in capital-labor ratio
Percentage change in inputs dividing by percentage change in outputs
None of the above
Principle of returns to scale
Law of variable proportions
External and internal economies and diseconomies
None of the above
Highly elastic
Perfectly inelastic
Fairly elastic
Moderately elastic
Total utility will increase by 6 units
The marginal utility per rupee is 6
The consumer will buy more because marginal utility is positive
The consumer obtained an extra54 units
Lead to greater specialization
Offsets the effects of the law the law of comparative advantage
Lead to greater diversification of individual production
Cause firms to use more capital and less labor
Improvements in its technology
Fall in the prices of other commodities
Fall in the prices of factors of production
All of the above
Negative
Positive
Infinite
Zero
Gaming
Strategic decisions
Both a and b
None of the above
Nil resources
Limited resources
Many resources
Extra resources
Hiring the building for the factory
Purchasing heavy machines
Paying the manager of the factory
Paying the laborers
Different prices are charged to different consumers for homogenous products
Same prices are charged for differentiated products
Different prices are charged for homogenous goods for successive units to the same customer
Any of the above condition is present
Maximum optimal scale
Average optimal scale
Minimum optimal scale
None of the above
Lord Keynes
J.S.Mill
Alfred Marshal
Prof.Senior
Convex to the origin
Slopes downwards to the right
Parallel to each other
Cannot intersect each other
Starts incurring losses
Uses more and more of one input while holding all other inputs constant
Does not utilize its inputs efficiently
Cuts down on the quantity of all inputs it uses
Transportation costs
The interplay of demand and supply
Costs of production
The marginal product of labour
Two
Many
Four
Very few
A stock concept
A flow concept
Both stock and flow
None of the above
Irving Fisher
J.B.Clark
J.M.Keynes
Gunnar Myrdal
Alfred Marshal
J.M.Keynes
Paul A.Samuelson
A.C.Pigou
Q = f(L)
U =f(X)
Q =f(K)
Q =f(L,K)
Average fixed cost increases sharply
More production yields lower per unit price
The law of variable proportions applies to short run production
Sales expenses become much larger
Least cost factor combination
Optimum factor combination
Both a and b
None of them
An optimum firm
A representative firm
An oxford firm
A marginal firm
The elastic part of a demand curve
The inelastic part of a demand curve
The constant elastic part of the demand curve
None of the above
Goods
Goods and services
Goods and services it can purchased
Monetary units
Percentage change in quantity demanded of a commodity divided by percentage change in price of that commodity
Change in quantity demanded of a commodity divided by change in price of that commodity
Percentage change in price of a commodity divided by percentage change in quantity demanded of that commodity
None of that commodity
Capital cost plus operating costs
Capital costs alone
Capital costs plus spill-over costs
Operating costs alone
Yields the same outcome over and over
Can result in behavior that is different from what it would be if the game were played once
Is not possible
Makes cooperative games into noncooperative games
Yield maximum total revenue
Minimize marginal cost
Maximize marginal cost
Equate marginal revenue with marginal cost