Necessary condition for consumer equilibrium is:





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  1. The model which gives us information about price and output changes in different periods is:
  2. The vertical demand curve for a commodity shows that its demand is:
  3. If the demand curve is vertical then its slope is:
  4. Inputs or Factors of production are defined as:
  5. Using total revenue and total cost, a profit maximizing firm will be equilibrium at a point:
  6. Nash equilibrium says:
  7. In sweezy model (kinked demand curve model), the overall increase in costs of production:
  8. A dominant strategy can best be described as:
  9. Under the law of variable proportions, the average and the marginal product of the variable factor would…
  10. A typical demand curve cannot be:
  11. In 1932, The nature and significance of economic science was written by:
  12. A country is advised to devalue (reduce external value of) its currency only when its exports face:
  13. Supply curves are most elastic:
  14. When elasticity of demand is one (e=1), then following the formula MR=P[1-1/e], the MR will:
  15. Conditions of perfect competition ensure:
  16. In the short-run, in which one of the following situations would a competitive seller close down (shut-down)?
  17. In Edgeworth model, prices oscillate between:
  18. In the case of a normal goods, the income effect:
  19. The entry of new firms in cournot model is:
  20. Repetition of a game (Repeated Game):
  21. In Nash Equilibrium:
  22. A vertical supply curve parallel to the price axis implies that the elasticity of supply is:
  23. In case of economic bads, an IC can be :
  24. In monopoly and perfect competition, TC curves are:
  25. A market demand curve presumes that:
  26. Which of the following would be least likely to cause a consumer to eat less beef?
  27. If Cobb-Douglas production function is homogeneous of degree greater than one (n>1), then it shows:
  28. Who wrote Economics of Imperfect Competition?
  29. The relationship between price effect, income effect and substitution effect is:
  30. Kinked Demand Curve is consistent with which one of the following market situations?