The marshallian indirect utility function in the form of equation is:

A. x =a-bp

B. x =b-ap


D. x = f(P)

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  2. If the price of product increases and in the result the demand for product B also increases then:
  3. If the commodity is normal then price effect is:
  4. A good tends to have relatively inelastic demand, if:
  5. The optimal strategy for a player is termed as:
  6. Microeconomics deals with the:
  7. Least cost combination of two factor inputs is achieved at a point where:
  8. The behavior of MC curve is determined by the behavior of the:
  9. Marginal utility equals:
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  14. Total profits are maximized at the point where:
  15. When price increases and with it the total outlay on a commodity also increases, it is a case of:
  16. Identify the author of The Affluent Society?
  17. The indifference curve technique:
  18. A decrease in demand lowers the price the most:
  19. If the production function is homogeneous, the expansion path will be a straight line through the origin…
  20. In monopolistic competition, the firm compete on the basis of:
  21. A mixed economy is characterized by the coexistence of:
  22. Which describes a competitive market?
  23. The budget constraint can be written as:
  24. In the case of two factor inputs which are neither perfectly complementary nor perfect substitutes,…
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  26. The monopolist often lead to exploitation of:
  27. Supply curves are most elastic:
  28. The elasticity of demand is equal to slope of demand function divided by:
  29. To calculate the Economic Profit we must deduct which of the following cost from our total revenues?
  30. With which of the following concepts is the name of J.M.Keynes particularly associated?