Increasing sales and maximizing profits
Reducing sales and raising prices
Minimizing cost and maximizing revenue
Serving the markets without earning profits
A. Increasing sales and maximizing profits
Decreases
Increases
Remains constant
Zero
Rising
Falling
Parallel to X-axis
Parallel to Y-axis
Maximize output
Minimize output
Minimize cost
Maximize profit
Social ownership of the means of production
Freedom of enterprise
Use of centralized planning
Government decisions
Partially offsets the substitution effect
Reinforces the substitution effect
Is equal to the substitution effect
More than offsets the substitution effect
Determination of the rate of interest
Determination of the market price
Determination of the wage rate
Determination of production of firm
x =f(P)
x =a-bp
Convex to the origin
Slopes downwards to the right
Parallel to each other
Cannot intersect each other
Gaming
Strategic decisions
Both a and b
None of the above
All of the consumer surplus
All of the producer surplus
Some part of the consumer surplus
None of them
How much to produce
How to produce
How to distribute
All of the above
Slutsky approach
Hicksian approach
Marshallian approach
None of the above
Both move together and reinforce each other
One moves and the other remains constant
Move in the opposite direction and neutralize each other
Both remain constant
Choices
Preferences
Both a and b
None of the above
Be similar
Not be similar
Equal
None of the above
A rising supply curve
A rising demand curve
A falling supply curve
A falling demand curve
One output
One input
Two outputs
Two inputs
Zero
Infinity
Unity
More than unity
Product similarity
Product differentiations
Product inferiority
None of the above
Can sell more
Reduces its revenues
Can sell nothing
Increases its revenues
Constant returns to scale
Increasing returns to scale
Decreasing returns to scale
None of the above
Quantity demanded increases
Quantity demanded decreases
Quantity demanded remains constant
Quantity demanded becomes zero
Negative
Positive
Near infinite
Zero
Change in its price causes a proportionately greater change in its quantity demanded
Change in its price does not change its quantity demanded
Change in consumers income causes change in demand
None of the above
Only two commodities
Only three commodities
More than three commodities
Any number of commodities
Prof. Robbins
Alfred Marshal
Prof. Senior
Adam Smith
also maximize its profits
not maximize its profits
maximize its costs
none of the above
Reduces its revenues
Increases its revenues
Can sell nothing
None of the above
Total utility to fall and marginal utility to increase
Total utility and marginal utility both to increase
Total utility to fall and marginal utility to become negative
Total utility to become negative and marginal utility to fall