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Rent is a creation of value, not of wealth who made this observation?

A. Adam Smith

B. David Ricardo

C. Alfred Marshal

D. A.C.Pigou

Correct Answer : B.


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  1. Cross-elasticity of demand or cross-price elasticity between two perfect complements will be:
  2. If the commodity is normal then Income Effect (I.E) is:
  3. Now-a-days in real life, we are unable to fined:
  4. Marginal utility (MU) always:
  5. The horizontal demand curve for a commodity shows that its demand is:
  6. There is no difference between fixed and variable factors in the:
  7. A monopolist is:
  8. Which of the following has more elastic demand curve?
  9. If as a result of an increase in prices, total outlay (expenditures) on a commodity decreases, its price-elasticity…
  10. Two policy variables, product and selling activities in the theory of firm was introduced by:
  11. Marginal utility means:
  12. Elasticity of demand is equal to unity while marginal revenue is:
  13. The slope of marshallian demand curve is:
  14. Under monopoly and imperfect competition MC is:
  15. The average product is given as:
  16. In the case of substitutes, the cross demand curve slopes
  17. Marginal Utility (MU) curve is always:
  18. The proportional demand curve in monopolistic competition (also in kinked demand curve model), is like…
  19. A straight line, downward-sloping demand curve implies that, as price falls, the elasticity of demand:
  20. The monopolist who is producing the same output from two (or more than two) plants is concerned with:
  21. At low prices, demand is likely to be:
  22. In monopoly:
  23. The games which played by players again and again are called:
  24. In short run, a firm would remain in business as long as which one of the following of cost is covered?
  25. The budget constraint can be written as:
  26. Demand is consumers:
  27. At the point where the straight line from the origin is tangent to the TC curve, AC is:
  28. On all points of budget (price) line:
  29. The optimum level of output in long run takes place where:
  30. The production function of homogeneous of degree one (n=1) is also called: