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The Law of Proportionality is another name of:

A. The law of diminishing marginal utility

B. The law of demand

C. The Law of Diminishing Returns

D. The law of supply

Correct Answer : C.


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  1. In a competitive market, price is determined primarily by:
  2. The income consumption curve (ICC) is the locus of points of consumer equilibrium resulting:
  3. Income -elasticity of demand will be zero when a given change in income brings about:
  4. Marginal utility equals:
  5. If the commodity is normal then the Income Effect (I.E) and the Substitution Effect (S.E):
  6. According to the principle of substitution?
  7. When the law of demand operates the demand curve:
  8. In monopolistic competition, the real differentiation in products is due to difference in:
  9. The relationship between AC and MC curves depend upon the behavior of:
  10. The marginal revenues are derivatives of:
  11. Chamberline introduces the concept of:
  12. By reducing the prices of its products below those of its competitors, a perfectly competitive seller:
  13. Price elasticity of demand is best defines as:
  14. The number of sellers in oligopoly is:
  15. The Purchasing Power Parity (PPP) Theory is presented by:
  16. The entry of new firms in cournot model is:
  17. The slope of isocost line (budget line) shows:
  18. In cournot model, firms sell:
  19. In the case of a giffen good, the income effect:
  20. On all points of budget (price) line:
  21. By increasing the price of its products above those of its competitors, a perfectly competitive seller:
  22. If the factors have to be employed in a fixed ratio, then the elasticity of substitution under Leontief…
  23. Consumers are likely to get a variety of similar goods under:
  24. Marginal utility is only meant for:
  25. Time Preference Theory of Interest was presented by:
  26. In arriving at stable equilibrium in cournot model, if one firm decreases output the other firm will:
  27. In the case of an inferior commodity, the income-elasticity of demand is:
  28. The fundamental choices that a society must make about the use of its resources include:
  29. In 1776, a famous book An enquiry into the nature and causes of the wealth of nation was written by:
  30. In the theory of firm, Chamberline presented the idea of: