The Law of Equi-Marginal Utility states:


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  1. The costs faced by the firm against fixed factors are:
  2. The Hicksian demand curve includes:
  3. Which of the following is called Gossens first law?
  4. The minimization of costs subject to output requires equilibrium at the lowest:
  5. Extension (expansion) of demand means:
  6. Least cost combination of two factor inputs is achieved at a point where:
  7. In case of income effect, the level of consumers satisfaction rises when:
  8. The spending of money by the producer to influence consumers is an example of:
  9. An effective price ceiling usually results in:
  10. In the short-run, the competitive firm can maximize its profits (or minimize its losses) by:
  11. According to the principle of substitution?
  12. The entry of new firms in cournot model is:
  13. Entry of new firms into a competitive market will shift the supply curve of the:
  14. Cournot equilibrium is attained where two reaction curves:
  15. According to Cobb-Douglas, in production function the marginal product of labor is:
  16. Which of the following is not characteristic of perfect competition?
  17. In the short-run, in which one of the following situations would a competitive seller close down (shut-down)?
  18. Moving down along a linear demand curve:
  19. The critics of Sweezy model say that kink generates:
  20. The study of economic theory for the sake of certain objective is called:
  21. A demand curve which is horizontal and parallel to x-axis represents:
  22. We can write ordinal utility function as:
  23. In discriminating monopoly (price discrimination), the elasticity of demand of product in two markets…
  24. According to Leontief technology, there:
  25. In the range of excess capacity, the average costs are:
  26. Under perfect competition, at equilibrium, marginal cost is:
  27. The point where the supply and demand curves intersect on a graph determines:
  28. Law of Substitution in production was presented by:
  29. In the perfect competition, there is a process of:
  30. The cost of one thing in terms of the alternative given up is known as: