Consumer surplus
Zero
Two rupees
Excess demand
B. Zero
Output
Input
Demand
Price
Economic combinations of labor and capital
Uneconomic combinations of labor and capital
Both a and b
None of the above
Increase at decreasing rate
Increase at constant rate
Decrease at increasing rate
Increase at increasing rate
Abnormal profit
Zero profit
Normal profit
Negative profit
Repel each other
Represent each other
Intersect each other
None of the above
Profits
Costs
Inputs
Price
Marginal utility of commodity X
Marginal utility of commodity Y
Marginal utility per rupee spent on X and Y commodities
None of the above
Utility effect
Budget line effect
Substitution effect
Income effect
Resources of the economy
Interests of the economy
Limitations of the economy
Qualities of the economy
Alfred Marshal
Adam Smith
Karl Marx
George Stigler
A relative term
An economic term
A dynamic term
As a whole term
Are downward sloping to the right
Show different input combination producing the same output
Intersect each other
Are convex to the origin
Fully spent
Half spent
Partially spent
Correctly spent
Downward
Upward
Horizontal
Straight line
There is tendency for firms to enter but not leave the industry
Firms have no tendency either to enter or to leave the industry
Some firms may enter while the others may leave the market even after the equilibrium of the industry
Entry or exit of the firms cannot be predicted
The supply curve will shift down or right
The supply curve will shift up or left
Both demand and supply curve shifts would occur
None of the above
P.E = S.E + I.E
S.E = P.E +I.E
I.E = P.E +S.E
S.E = P.E +2I.E
The producer will often produce a volume that is less than the amount which would maximize the social welfare.
The producer will often produce a volume that is more than the amount which would maximize the social welfare.
The consumers will often consume a volume that is more than the amount which would maximize the social welfare.
None of the above
I am doing the best, I can given what you are doing
You are doing the best, you can given what I am doing
Both a and b
None of the above
P = AC
P = MC
AC = MC
MC = TR
Increase the quantity demanded
Fixed the quantity demanded
Decrease the quantity demanded
None of the above
Slopes downwards to the right
Slopes upward to the right
Is vertical to the x-axis
Is horizontal to the x-axis
Zero elasticity
An elasticity greater than one
Unitary elasticity of supply
An elasticity less than one
The firms producing with excess capacity
The firms producing at their minimum costs
Firms producing at a cost higher than the minimum
Some firms producing under decreasing costs and others under increasing costs
Imperfect substitutes
Perfect substitutes
Complements
None of the above
Better off
Worse off
In equilibrium
Neither better off nor Worse off
Productive resources such as labor and capital equipment that firms use to manufacture goods and services are called inputs or factors of production
Unproductive resources that do not take part in production process are called inputs or factors of production
Firms own resources are called inputs or factors of production
None of the above
R.G.D.Alien
J.R.Hicks
A.C.Pigou
None of the above
Output is effected
Equilibrium is effected
Input is effected
Reputation is effected
Input factor
Heavy factor
Output factor
Load factor