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4

The advertisement and other selling activities:

A. Lessen the differentiation

B. Widen the differentiation

C. Does not effect the differentiation

D. All of the above

Correct Answer :

B. Widen the differentiation


Related Questions

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4

Cardinal approach includes arranging:

A. The different combinations of X and Y higher and lower without actually measuring the difference of utility between them

B. The different combinations of X and Y higher and lower and measuring the difference of utility between them

C. Different combination of X, Y and Z

D. None of above

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4

Total Utility (TU) curve:

A. Always rises

B. Always falls

C. First falls and then rises

D. First rises and then falls

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4

From analysis, it is clear that both Marshal and Walras market models are:

A. Unstable

B. Stable

C. Variable

D. Fluctuating

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4

An indifference curve normally slopes downward from:

A. Left to right

B. Right to left

C. Both of them

D. None of them

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4

Liquidity of Preference Theory was introduced by:

A. Alfred Marshal

B. Lord Keynes

C. Karl Marx

D. Prof. Robbins

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4

Traditionally, the study of determination of price is called:

A. Theory of price

B. Theory of value

C. Theory of labor

D. Theory of cost

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4

The costs faced by the firm against fixed factors are:

A. Total costs

B. Fixed costs

C. Variable costs

D. Marginal costs

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4

Rational economic behavior on the part of the consumer means that he will:

A. Save as much of his income as possible

B. Spend as much of his income as possible

C. Buy everything at the lowest possible price

D. Make wise choices among available economic goods

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4

The supply curve would probably shift to the right if:

A. Resource( factors of production) used in production became more costly

B. The technology of production improves

C. Consumers income increased

D. Some sellers left the market

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4

The demand curve in monopolistic competition (also in kinked demand curve model), which shows the share of a firm in market is called:

A. Relative demand curve

B. Proportional demand curve

C. Productive demand curve

D. Differential demand curve

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4

7.The costs which the firms have to face in order to change the price tags of their products and services are called:

A. Product costs

B. Real costs

C. Menu costs

D. Nominal costs

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4

When elasticity of demand is less than one (e<1), then following the formula MR=P[1-1/e], the MR will:

A. Positive

B. Negative

C. Zero

D. None of the above

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4

When at a given price, the quantity supplied of a commodity is more than the quantity demanded, there will be:

A. An upward pressure on price

B. A downward pressure on price

C. Price will remain unaffected

D. All of the above

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4

In substitution effect and income effect:

A. The substitution effect is more certain

B. The income effect is more certain

C. The substitution effect is uncertain

D. The income effect is always positive

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4

Change in demand (rise and fall of demand) is:

A. Due to change in price while other factors remain constant

B. Due to change in factors other than price

C. Both a and b

D. None of the above

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4

The Input-Output Analysis was originated by:

A. W.W. Leontief

B. E.D.Domar

C. R.G.D.Allen

D. J.M.Keynes

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4

Scarcity means:

A. Nil resources

B. Limited resources

C. Many resources

D. Extra resources

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4

The production techniques are technically efficient:

A. Bellow the lower ridge line

B. Above the upper ridge line

C. Between the two ridge lines

D. On the upper ridge line

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4

The expansion point is attained by joining:

A. Similar optimal combinations

B. Different optimal combinations

C. Both of them

D. None of them

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4

MRSxy measures:

A. The amount of Y a consumer is willing to give up to obtain one additional unit of X and still remain on the same indifference curve

B. The amount of X a consumer is willing to give up to obtain one additional unit of Y and still remain on the same indifference curve

C. The amount of Y a consumer is willing to give up to obtain one additional unit of X and move to a higher indifference curve

D. The amount of X a consumer is willing to give up to obtain one additional unit of Y and move to a higher indifference curve

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4

If the production function is homogeneous, the expansion path will be a straight line through the origin whose slope determines the optimal:

A. L/K ratio

B. K/L ratio

C. P/L ratio

D. P/K ratio

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4

While buying two goods X and Y with unequal prices, to maximize total utility from his income, a consumer should get:

A. Equal MU from both commodities X and Y

B. More MU from commodity X than from commodity Y

C. More MU from commodity Y than from commodity X

D. Equal marginal utility from the last rupee spent on commodity X and commodity Y

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4

In monopolistic competition, the customers are attached with one product because of:

A. Product similarity

B. Product differentiations

C. Product inferiority

D. None of the above

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4

Supply of a commodity refers to:

A. Total stock of a commodity in the market

B. Total production of a commodity during the year

C. Total production plus total stock of a commodity

D. Amount of commodity offered for sale at some price at a particular place and time

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4

According to Chamberlin, the activity of a monopolistic competitive firm:

A. Get noticed by the rival firms

B. Get unnoticed by the rival firms

C. Get noticed by the employees of the rival firms

D. None of the above

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4

In sweezy model (kinked demand curve model), the overall increase in costs of production:

A. Do not effect equilibrium

B. Affect equilibrium

C. Both a and b

D. None of the above

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4

Under competitive conditions, the industry will be in equilibrium:

A. When each firm is in equilibrium equating MC with MR

B. When all the firms are earning only normal profits

C. When firms outside have no tendency to enter the industry and those within, have no tendency to leave the industry

D. All of the above

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4

If the marginal utility of apples to a consumer exceeds that of bananas then the consumer:

A. Is not in equilibrium

B. Will not buy any banana

C. Will buy some banana but less than he buys of apples

D. Is willing to pay more for apples than bananas

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4

If the slope of the isoquant is equal to the slope of isocost, then isoquant is:

A. Concave to the origin

B. Convex to the origin

C. Tangent to the origin

D. None of the above

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4

The kinked demand curve comes into being where:

A. Proportional demand curve (PDC) and individual demand curve (IDC) intersect each other

B. Proportional demand curve (PDC) and individual demand curve (IDC) are parallel to each other

C. Proportional demand curve (PDC) and individual demand curve (IDC) repel each other

D. None of the above