Alfred Marshal
Lord Keynes
Karl Marx
Prof. Robbins
B. Lord Keynes
More units
Less units
Same units
Zero units
Proportional demand curve (PDC) and individual demand curve (IDC) intersect each other
Proportional demand curve (PDC) and individual demand curve (IDC) are parallel to each other
Proportional demand curve (PDC) and individual demand curve (IDC) repel each other
None of the above
Total costs
Fixed costs
Variable costs
Marginal costs
Sunspot Theory
Monetary Theory
Saving-Investment Theory
Innovation Theory
Car
Salt
Tea
House
Stable cobweb model
Perpetual oscillation
Both(a) and(b)
None of them
Demand curve is more than supply curve
Supply curve is more than demand curve
Supply curve is equal to demand curve
None of the above
Operating under diminishing cost
Making optimum use of plant capacity
Operating at excess capacity
Operating under increasing costs
Be similar
Not be similar
Equal
None of the above
Due to change in price while other factors remain constant
Due to change in factors other than price
Both a and b
None of the above
Downwards to the right
Upwards to the right
Backwards to the top
Inwards at the bottom
Cost of raw materials
Cost of equipment
Interest payment on past borrowing
Payment of rent on buildings
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
Enforce contracts
Make contracts
Make negotiations
Do not make negotiations
Price
Entry
Both a and b
None of the above
Growth of firms processing its waste materials
Development of research bureau serving the industry
Supply of suitable skilled labor in the area
All of the above
A utility function refers to a particular individual and reflects the tastes of that individual
When the tastes of an individual changes, his utility function changes(shifts)
Different individuals usually have different tastes and thus have different utility functions
Different individuals have same tastes and thus have the same utility function
The price at which the marginal unit sells
Total revenue sale of all units divided by volume of sales
Average revenue of total output average revenue of last unit
The change in total revenue resulting from the sale of one unit more of output
Positive
Negative
Zero
None of the above
Same cost conditions
Different cost conditions
Same price conditions
Same products conditions
TFC TVC
TFC/TVC
TVC/TFC
TFC +TVC
Marginal cost curve
Average variable cost curve
Fixed cost curve
Average cost curve
Not different
Same
Not same
Zero
When elasticities of demand in different markets are the same at the ruling price
When elasticities of demand are different in different markets at the ruling price
When elasticities cannot be known
When elasticities of demands are zero in different markets at the rulling price
MP = AP
MP < AP
MP > AP =0
MP > AP
What to produce
How to produce
How to maximize private profit
For whom to produce
The price falls and the demand also falls down
The price increases but demand falls down
The price increases the demand remains constant and when the price remains constant the demand goes up
The price remains constant but demand falls
Tea and sugar
Tea and coffee
Pen and ink
Shirt and trousers
Two sellers
A few sellers
Five sellers
Many sellers
Decreases
Increases
Become very high
Remain unchanged