The game theory was basically presented by:
Ricardo
Marshal
Neomann and Morgenstern
Karl Marx
- Rational economic behavior on the part of the consumer means that he will:
- In Prisoner Dilemma, the best choice of strategy is:
- When total revenues equal to total opportunity cost then the firm will earn:
- An increase in the supply of a commodity is caused by:
- Contraction of demand means:
- For the given production function, technical efficiency is defined as:
- In the case where two commodities are good substitutes then cross elasticity will be:
- By increasing the price of its products above those of its competitors, a perfectly competitive seller:
- Quantity demanded or supplied is measured in:
- In the immediate run:
- The production function can convey to a firm:
- Law of variable proportions is based on the assumption of:
- In the long run:
- Micro economics is concerned with:
- Which of the following does not have a uniform elasticity of demand at all points?
- Marginal utility (MU) always:
- The short-run supply curve of the perfectly competitive firm is given by:
- If two households have identical preferences but different incomes then:
- Capital Saving Technological Progress can be defined as:
- The advantage of using indifference curves rather than marginal utilities is:
- The addition or increment to the total cost involvesd in expanding or contracting output by one unit…
- When there is decrease in demand the demand curve:
- In case of short-run, the supply curve of an industry is the horizontal summation of:
- A firm can never produce in the middle area of input space, in case of:
- Total utility:
- In Edgeworth model, price remains:
- Labor theory was firstly rejected by:
- In the modern theory of costs, the level of production which the firm considers feasible is known as:
- In case of monopoly, the price charged against the additional unit is:
- Which of the following is assumed to be constant when a supply curve is drawn: