The alternative of profit maximization theory is:
Cost maximization
Product maximization
Revenue maximization
None of the above
- Karl Marx:
- If X and Y are close substitutes, a fall in price of X will lead to:
- Under competitive conditions, the industry will be in equilibrium:
- The equilibrium conditions, MC = MR = AR = AC, will happen:
- The demand curve of a firm in monopolistic competition is:
- In Revealed Preference Theory, Samuelson proves P.E = S.E + I.E :
- Elasticity (E) expressed by the term, 8 >E>1, is:
- A demand schedule is shown as:
- The budget-line is also known as the:
- Under perfect competition, at equilibrium, marginal cost is:
- When total revenue (TR) falls in monopoly then elasticity of demand is:
- The MRTS along an iso-quant goes on to:
- Marginal Utility (MU) curve is always:
- If a straight line supply curve makes an intercept on the Y-axis, elasticity of supply is:
- If a consumer buys a product that costs Rs.3 and provides an additional 18 units of satisfaction, then…
- Isocost line shows the combinations of labor and capital where a firms budget is:
- Elasticity of demand is equal to unity while marginal revenue is:
- In case of perfect competition, TR curve rises at a:
- Moving down along a linear demand curve:
- With elasticity of demand, the:
- Time Preference Theory of Interest was presented by:
- The concept of product differentiation was firstly introduced by:
- If the factors have to be employed in a fixed ratio, then the elasticity of substitution under Leontief…
- In monopoly, new firms:
- The cost curves of the firm shift due to changes in:
- The difference between accounting profits and economic profits is:
- In the short-run, in which one of the following situations would a competitive seller close down (shut-down)?
- Perfect competition assumes:
- Of the following commodities, which has the lowest price-elasticity of demand?
- Demand is elastic when the coefficient of elasticity is: