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Market demand curve is:

A. Vertical summation of individual demand curves

B. Upward summation of individual demand curves

C. Downward summation of individual demand curves

D. Horizontal summation of individual demand curves

Correct Answer : D.


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  2. The supply curve for the short-run competitive firm is the same as:
  3. All the firms with identical costs under perfect competition well, in the long-run, earn only:
  4. Average cost means:
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  6. Which of the following is assumed to be constant when drawing a demand curve?
  7. In case of monopoly, the price charged against the additional unit is:
  8. Increasing returns imply:
  9. Identify the author of The Affluent Society?
  10. In the short-run, the competitive firm can maximize its profits (or minimize its losses) by:
  11. The monopolist often lead to exploitation of:
  12. In the theory of firm, Chamberline presented the idea of:
  13. If there are many firms producing similar but differentiated products, the competition is generally…
  14. According to Chamberlin, the activity of a monopolistic competitive firm:
  15. Elasticity of supply means change in supply due to change in:
  16. If the factors have to be employed in a fixed ratio, then the elasticity of substitution under Leontief…
  17. Total fixed costs are:
  18. If the demand curve is horizontal then its slope is:
  19. In first degree price discrimination, monopolist takes away :
  20. The production process is:
  21. According to Diamond Water Paradox diamonds are more expensive than water because:
  22. If the commodity is normal then price effect is:
  23. Microeconomics is also known as:
  24. Under price discrimination, the buyers must:
  25. The nominal income of a consumer is income in terms of:
  26. Elasticity of Substitution (s) is defined as:
  27. If Cobb-Douglas production function is homogeneous of degree greater than one (n>1), then it shows:
  28. To get more revenue, a Finance Minister impose tax on that commodity which has:
  29. In repeated game, the Prisoners Dillemma can have a:
  30. If the price of a product falls then quantity demanded tends to increase ceteris paribus because: