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The budget constraint can be written as:

A. X.PX + Y.PY = 1

B. X.PX + Y.PY < 1

C. X.PX + Y.PY > 1

D. X.PX + Y.PY = 0

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  2. Which of the following is an implicit cost of production?
  3. In case of monopoly:
  4. Identify the work of T.W.Schultz:
  5. If the commodity is normal then the Income Effect (I.E) and the Substitution Effect (S.E):
  6. We can measure consumers surplus with the help of
  7. Microeconomics is also known as:
  8. Contraction in demand occurs when:
  9. Other things remaining the same, when a consumers income increases his equilibrium point moves to:
  10. Engel curves shows that:
  11. The Purchasing Power Parity (PPP) Theory is presented by:
  12. When a consumer is in equilibrium then slope of indifference curve is:
  13. Who wrote Mathematical Analysis for Economists?
  14. Supply of commodity is a:
  15. Firms average and marginal revenues are equal under:
  16. Under perfect competition, the average revenue, marginal revenue and price are shown:
  17. In cournot model, each firm expects a reaction from his rival but the expected reaction is not:
  18. In the case of a normal goods, the income effect:
  19. If in the long run all factor inputs are increased three times and the resulting output is four times…
  20. If the demand curve remains unchanged and supply increases, the price will:
  21. Economics is a:
  22. Which of the following would be least likely to cause a consumer to eat less beef?
  23. The kinked demand curve comes into being where:
  24. Price is measured in:
  25. In constant sum game (zero sum game), if there are two parties then:
  26. In the long-run competitive equilibrium:
  27. The monopolist who is producing the same output from two (or more than two) plants is concerned with:
  28. In cournot model, firms face:
  29. In Bertrand model, the entry of new firms is:
  30. In microeconomics, we study: