Wages of labor
Factor pricing
Theory of rent
Determination of the rate of interest
C. Theory of rent
Starts incurring losses
Uses more and more of one input while holding all other inputs constant
Does not utilize its inputs efficiently
Cuts down on the quantity of all inputs it uses
Horizontal demand curve
Vertical demand curve
Similar demand curve
Differential demand curve
No risks
Risks
Safety
None of the above
Total units /No. of Revenues
Total Revenue/No. of Units
Marginal Revenue × Units
Total Units/ Price
LMC.Q
AC.Q
LC.Q
LAC.Q
Consumption expenditure
Theory of population
Division of labor
Theory of demand
Stagnant
Mobile
Immobile
Rare
Positive
Unitary
Negative
Infinite
Is also same
Is different
Is constant
Is zero
MC
AVC
TFC
AC
Positive
Negative
Zero
None of the above
Negative
One
Positive
Zero
Alfred Marshal
Adam Smith
J.B.Clark
Hicks, Longe and Durbin
At different points
At the falling parts of each
At their respective minimums
At the rising parts of each
Increase in demand for Y
Decrease in demand for Y
Increase in demand for both X and Y
Increase in demand for Y
Gunnar Myrdal
N.Kaldor
A.C.Pigou
J.K.Galbraith
Fixed factors
Variable factors
Both of them
None of them
Double to that of AR
1/2 to that of AR
2/3 to that of AR
Four times to that of AR
TU curve
MU curve
Supply curve
None of the above
Total cost or total variable cost
Total explicit cost
Total fixed cost
Total implicit cost
Thousands
Few
Innumerable
Hundreds
Decreasing returns to scale
Constant returns to scale
Increasing returns to scale
maximum returns to scale
Free good
Economic good
Both of the above
None of the above
Maximum
Minimum
Equal
Lower
Monopoly
Perfect competition
Imperfect competition
Monopolistic competition
Helps in separating the income effect and the substitution effect
Does not help in separating the two effects
Mixed up the two effects
None of the above
Cannot make price adjustments
Can make price adjustments
Can adjust number of customers
None of the above
Marshallian demand curve
Hicksian demand curve
Slutsky demand curve
All the above
Less quantity demanded at the same price
Less quantity demanded at a higher price
Less quantity demanded at a lower price
None of the above
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