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Revealed Preference Theory was presented by:

A. Ricardo

B. Adam Smith

C. Pigou

D. Samuelson

Correct Answer : D.


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  1. Price discrimination is possible:
  2. Total fixed costs are:
  3. The study of economics just in theoretical way is called:
  4. The supply curve would probably shift to the right if:
  5. Marginal utility is only meant for:
  6. Some farm land can be used to produce either corn or soybeans. If the demand for corn increases then:
  7. In economist the term invisible hand is refers to:
  8. Under monopolistic competition, the firms compete alongwith:
  9. Price discrimination is possible:
  10. The Lambda or Langrange Multiplier is a:
  11. The cournot model is a model of:
  12. The marginal revenue of a perfectly competitive firm is:
  13. The standard form of demand function is:
  14. Which of the following theories of trade cycle was presented by William Jevons?
  15. The entry of new firms in cournot model is:
  16. The budget constraint equation of the firm is:
  17. If the production function is homogeneous, the expansion path will be a straight line through the origin…
  18. According to Marshal, the Law of Diminishing Returns is applicable to:
  19. Increase in demand occurs when:
  20. In Prisoners Dillemma, the players are:
  21. The costs faced by the firm against variable factors are:
  22. Used cars are sold in:
  23. The game theory was basically presented by:
  24. The relationship between MC and MP shown by the marginal cost concept is:
  25. Robbins definition of economics was criticised by:
  26. The general markets results from the imposition of price ceilings has been:
  27. If a person behaves against the laws of economics then:
  28. In price leadership, like leader, the follower firm may:
  29. Government planners play a central role in allocating resources:
  30. If X and Y are close substitutes, a fall in price of X will lead to: