The amount of Y a consumer is willing to give up to obtain one additional unit of X and still remain on the same indifference curve
The amount of X a consumer is willing to give up to obtain one additional unit of Y and still remain on the same indifference curve
The amount of Y a consumer is willing to give up to obtain one additional unit of X and move to a higher indifference curve
The amount of X a consumer is willing to give up to obtain one additional unit of Y and move to a higher indifference curve
B. The amount of X a consumer is willing to give up to obtain one additional unit of Y and still remain on the same indifference curve
monopolistic firms
monopoly
competitive firms
none of the above
Standardized product
Differentiate product
Two firms
No entry
MR=ATC
P=ATC
P=MC
P=AC
Negative
Inverse
Positive
Both (a) and(b)
Move to another indifference curve
Move along given indifference curve
Move to lower indifference curve
Move to upper indifference curve
Perfect elasticity (infinitely elastic)
Relative elasticity (greater than one elasticity)
Perfect inelasticity (zero elasticity)
Relative inelasticity (less than one elasticity)
The products price
Expectations
The prices of factors of production used to produced it
Production technology
higher prices
zero prices
lower prices
specific prices
R.Nurkse
R.C.Mathews
W.A.Lewis
K.N.Raj
Product similarity
Product differentiations
Product inferiority
None of the above
Also decrease it
Increase it
Remain uneffected
None of the above
Oligopoly
Pure competition
Perfect competition
Monopolistic competition
Sets of points relating production function that maximizes output given input (labor) i.e. Q = f(L, K)
Sets of points relating production function that produces less output than possible for a given set of input (labor) i.e. Q < f(L, K)
Use of imported technology
None of the above
Each additional unit of output will be more expensive to produce
Each additional unit of output will require increasing amount of inputs
Marginal product of the variable factor of production decreases as the quantity increases
All of the above
Two sellers
A few sellers
Five sellers
Many sellers
Zero (perfectly inelastic)
Equal to one (unitary elastic)
Infinite (perfectly elastic)
None of the above
Slutsky approach
Hicksian approach
Marshallian approach
None of the above
MP is negative
MP is infinite
MP is zero
None of the above
Price and output determination
Price rigidity (price stickness)
Price leadership
Collusion among rivals
Advertising
His low LAC
Blocked entry
High price he charges
Imperfect substitutes
Perfect substitutes
Complements
None of the above
Is also same
Is different
Is constant
Is zero
Pure competition
Pure monopoly
Oligopoly
Monopolistic competition
Implicit costs
Explicit costs
Fixed costs
Variable costs
none of the above
Bandwagon effects
Snob effects
Veblen effects
Steven effects
Goods into services
Output into inputs
Inputs into outputs
None of the above
Engels curve
Production indifference curve
Budget line
Ridge line
The price of their product
Product quality
The shape of the market demand curve
The elasticity of product substitution
Income level
Satisfaction level
Marginal rate of substitution
Demand level