Price effect occurs on the higher IC in case of:
Slutsky approach
Hicksian approach
Marshallian approach
None of the above
Correct Answer :
A. Slutsky approach
Related Questions
The budget constraint equation of the firm is:
If production increases under increasing returns to scale, the cost will:
Increase at decreasing rate
Increase at constant rate
Decrease at increasing rate
Increase at increasing rate
Marginal cost is the cost:
Of the last unit of production
Of marginal unit
Of marginal efficient units
Of the average units of production
In market sharing cartel model, cartel determines the shares of:
the individuals
industry
firms
associations
In Nash equilibrium, a player:
Deviates from his strategy
Does not deviate from his strategy
Does not think in a good way
None of the above
Which describes a competitive market?
Many buyers and many sellers
One seller, many buyers
One buyer, many sellers
Few sellers, many buyers
Entry of new firms into a competitive market will shift the supply curve of the:
Firm to the left
Industry to the right
Firm to the right
Industry to the left
When total product (TP) is maximum:
MP is negative
MP is infinite
MP is zero
None of the above
Price discrimination is undertaken with the aim of:
Increasing sales and maximizing profits
Reducing sales and raising prices
Minimizing cost and maximizing revenue
Serving the markets without earning profits
Law of Variable Proportions is regarding in:
Short-Run
Long-Run
Medium-Run
None of the above
The word ECONOMICS is derived from the Greek terms meanings:
Political economy
Household Management
Production and consumption
Financial Accounting
The slutsky demand curve includes:
Income effect
Price effect
Substitution effect
None of the above
Economics is a:
Physical science
Social science
Natural science
Basic science
Price leadership is associated with:
Collusive oligopoly
Non-collusive oligopoly
Cartel
Perfect competition
With an increase in income, consumer is expected to buy more of:
An inferior good
A giffen good
A normal(or superior) good
None of the above
Decrease in demand results in:
Upward shift in demand curve
Downward shift in demand curve
Movement on the same demand curve
No movement or shift at all
Who finalized the model of imperfect competition?
Ricardo
Marshal
Chamberlin
Mrs. Robinson
According to Cobb-Douglas, in production function the marginal product of labor is:
Revealed Preference Theory was presented by:
Ricardo
Adam Smith
Pigou
Samuelson
Each SAC represents a particular level of:
Input
Output
Both of them
None of them
The partial equilibrium model keeps other things:
Variable
Constant
Increasing
Decreasing
In case of monopoly, the slope of MR is:
Always three times than the slope of AR
Always double than the slope of AR
Always equal to the slope of AR
None of the above
A firm in a position of equilibrium is supposed to be maximizing:
Output
Sales
Profits
None of the above
An exceptional demand curve is:
Downward sloping
Upward sloping
Horizontal straight line
Vertical straight line
Opportunity costs are also known as:
Spill-over costs
Money costs
Alternative costs
External costs
The concept of period refers to:
A specific duration of time
A varying duration of time
A duration of time which permits necessary adjustments
A period with calculated intervals
Price discrimination is possible:
Only under monopoly situation
Under any market form
Only under monopolistic competition
Only under perfect competition
At the point where the straight line from the origin is tangent to the TC curve, AC is:
Maximum
Minimum
Equal
Lower
Which of the following is not an explicit cost of production?
Wage of self-employed proprietor
Depreciation on machinery
Returns on owned capital
Cost of raw materials
A firm is a sum of persons who convert:
Goods into services
Output into inputs
Inputs into outputs
None of the above