Scarcity is:
A relative term
An economic term
A dynamic term
As a whole term
- In non-constant sum game (non-zero sum game), if there are two parties then:
- The substitution effect works to encourage a consumer to purchase more of a product when the price of…
- The budget constraint equation of the firm is:
- Scarcity means:
- Which of the following does not have a uniform elasticity of demand at all points?
- Under the law of variable proportions, the average and the marginal product of the variable factor would…
- When the law of demand operates the demand curve:
- In the real world, some competitive firms owns specialized resources that earn a return called:
- The difference between average total cost and average fixed cost shows:
- In the case of complements, the cross demand curve slopes:
- We can obtain consumers demand curve from:
- In sweezy model (kinked demand curve model), the role of MC curve:
- In a perfectly competitive market, suppliers must know:
- The economic problem of determining the combination of inputs yielding lowest cost for producing a given…
- An economic theory is :
- In the long-run competitive equilibrium:
- Money spent by a firm on the purchase of capital equipment is:
- The elliptical isoquant represents the:
- The good will highest income elasticity is:
- Micro economics is concerned with:
- When marginal costs curve cuts average costs curve, average costs are:
- Market demand curve is:
- In price leadership, like leader, the follower firm may:
- On the total utility curve the economically relevant range is the portion over which:
- Economies of large-scale production:
- In monopolistic competition, the firm compete on the basis of:
- MC = MR = AC = AR shows the long run equilibrium position of the:
- The optimal strategy for a player is termed as:
- Increasing return to scales can be explained in terms of:
- The Input-Output Analysis was originated by: