Principle of returns to scale
Law of variable proportions
External and internal economies and diseconomies
None of the above
B. Law of variable proportions
The wages employment ratio
The capital rent ratio
The rent labor ratio
The capital labor ratio
Not relevant to elasticity
The only factor determining elasticity
Only one of the factors influencing elasticity
None of the above
Hydraulic function
Cubic function
Pentagonic function
Quadratic function
Unitary elastic demand
Perfectly elastic demand
Perfectly inelastic demand
Relatively elastic demand
No distinction between firm and industry
One firm and no industry
No firm and no industry
None of the above
Increase in demand for Y
Decrease in demand for Y
Decrease in demand for both X and Y
No change in demand for Y
Break-even point
Load point
Shut-down point
Revenue cost point
Industry
All fields of production
Agriculture
None of the above
Output
Sales
Profits
None of the above
Rising cost
Falling cost
Rising input
Falling input
In nominal income
In money income
In wages
In real income because of the fall of price of a commodity
Applies on both money and other commodities
Does not apply on money
Does not apply on bank money but applies on cash money
Applies on all the commodities except on money
Maximum
Minimum
Zero
One
Average requirement for it in any given place
Amount of it wanted at any given price
Amount that people would like to buy during a period at different prices
Quantity needed to maintain a given standard of living
R.Nurkse
R.C.Mathews
W.A.Lewis
K.N.Raj
Pure competition
Pure monopoly
Oligopoly
Monopolistic competition
x =f(P)
x =a-bp
Monopoly
Perfect competition
Oligopoly
Monopolistic competition
Resources of the economy
Interests of the economy
Limitations of the economy
Qualities of the economy
Increases
Decreases
Remains constant
None of above
Possible outcomes
Possible benefits
Possible losses
None of them
Equal to unity
Less than unity
More than unity
Zero
Indifference curves shift down
Budget line shifts down
Indifference curve shift up
Budget line pivots
Costs per unit of output are lowest
Total profits are highest
Marginal cost is lowest
Profit per unit of output is zero
Monetary units
Physical units
Relative units
Constant units
Advertise to increase the demand for their product
Do not advertise, because most advertising is wasteful
Do not advertise because they can sell as much as they want at the current price
Who advertise will get more profits than those who do not
Average revenue curve lies above the marginal revenue curve
Average revenue curve coincides with the marginal revenue curve
Average revenue curve lies below the marginal revenue curve
Average revenue curve is parallel to the marginal revenue curve
Goods into services
Output into inputs
Inputs into outputs
None of the above
Cannot make price adjustments
Can make price adjustments
Can adjust number of customers
None of the above
Equal to zero
Equal to one
Equal to infinite
More than one