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On a straight line demand curve, elasticity of demand at the midpoint is:

A. Equal to zero

B. Equal to one

C. Equal to infinity

D. More than one

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  2. In terms of price, the indirect utility function may be:
  3. The Prisoners Dilemma was presented by A.W.Tucker in:
  4. A firm under perfect competition has:
  5. The line from the origin to a point on an isoquant shows:
  6. The basic and essential economic problems in a community are related to choice and:
  7. Production is a function of:
  8. In the case of complements, the cross demand curve slopes:
  9. Karl Marx:
  10. When at a given price, the quantity demanded of a commodity is more than the quantity supplied, there…
  11. Entry of new firms into a competitive market will shift the supply curve of the:
  12. Any straight line supply which cuts the x-axis will have:
  13. Which of the following conditions is met in the long-run equilibrium in monopolistic competition, where…
  14. By scarcity the economist means that all goods are scarce relative the peoples:
  15. If the consumers expect that the price of computers will decrease in next year then:
  16. Indifference curve represents:
  17. In substitution effect and income effect:
  18. Contracts made by firms in cooperative games are:
  19. If both demand and supply were to increase then:
  20. With which of the following concepts is the name of J.M.Keynes particularly associated?
  21. If a person behaves against the laws of economics then:
  22. According to the principle of substitution?
  23. In cournot model, firms sell:
  24. Which is the other name that is given to the average revenue curve?
  25. When total revenue (TR) falls in monopoly then elasticity of demand is:
  26. Total Utility (TU) curve:
  27. If there are many producers, each of whom has an individual production possibility curve, then the lowest…
  28. The short-run periods in monopolistic competition are:
  29. The main contribution of Prof.Robbins is in the field of:
  30. The isoquant approach is based upon: