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Rotten eggs are:

A. Free goods

B. Economic goods

C. Luxury goods

D. None of the above

Correct Answer : A.


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  1. Which of the following is not a feature of isoproduct curves?
  2. Abstinence or Waiting theory of Interest was presented by:
  3. If the commodity is inferior then the Income Effect (I.E) and the Substitution Effect (S.E):
  4. If X and Y are close substitutes, a rise in the price of X will lead to:
  5. Classical production function is:
  6. A budget line shows:
  7. Each firm in cournot model assumes that its competitor will:
  8. Total profits are maximized at the point where:
  9. The budget line is described by each of the following except:
  10. At a point above the middle of a straight line demand curve, elasticity of demand is:
  11. In the long-run:
  12. Which of the following oligopoly models is concerned with the maximization of joint profits?
  13. When price increases and with it the total outlay on a commodity also increases, it is a case of:
  14. The supply curve would probably shift to the right if:
  15. The number of sellers in oligopoly are:
  16. The amount of income left over for a consumer in equilibrium is :
  17. In economic term water is a:
  18. The situation of single buyer and single seller is called:
  19. The supply curve for the short-run competitive firm is the same as:
  20. Identify the economist who first developed the theory of income determination in its modern form:
  21. Under monopolistic competition, the products sold by the firms are:
  22. According to Leontief technology, there:
  23. In Revealed Preference Theory, a consumer reveals preference for bundle of:
  24. The main contribution of Prof. R.G.D.Allen is in the field of:
  25. An indifferent curve shows:
  26. Monopolistic firm can fix:
  27. Marginal cost is the cost:
  28. A firm can never produce in the middle area of input space, in case of:
  29. In case of giffin good, price effect is:
  30. The Lambda or Langrange Multiplier is a: