The model which gives us information about price and output changes in different periods is:

A. Stable cobweb model

B. Perpetual oscillation

C. Both(a) and(b)

D. None of them

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  1. We can measure consumers surplus with the help of
  2. In collusive olligopoly, the firms may make:
  3. Marginal utility is only meant for:
  4. Change in quantity demanded (expansion and contraction of demand) is:
  5. The main contribution of Alfred Marshal is in the field of:
  6. If as a result of a decrease in price, total outlay (expenditures) on a commodity increases, its price-elasticity…
  7. If two households have identical preferences but different incomes then:
  8. Cardinal approach includes arranging:
  9. Normally when price per unit of time falls:
  10. The largest possible loss that a firm will make in the short run is:
  11. According to critics, the assumption of costless production is:
  12. Isocost line shows the combinations of labor and capital where a firms budget is:
  13. The monopolist often lead to exploitation of:
  14. If cross-elasticity of one commodity for another turns out to be zero, it means they are:
  15. Other things remaining the same, when a consumers income increases his equilibrium point moves to:
  16. The Law of Proportionality is another name of:
  17. The concept of period refers to:
  18. When the law of demand operates the demand curve:
  19. The monopolist firm is price setter. The price setter firm is one which:
  20. On a straight line demand curve, elasticity of demand at the midpoint is:
  21. The effects according to which people use those goods which are concerned with distinctive standard…
  22. Discriminating monopoly implies that the monopolist charges different prices for his commodity:
  23. The short-run supply curve of the perfectly competitive firm is given by:
  24. Neutral Technological Progress can be defined as:
  25. A mixed economy is characterized by the coexistence of:
  26. When marginal costs curve cuts average costs curve, average costs are:
  27. If two goods are perfect substitutes then IC will be:
  28. If a commodity sold under monopoly is got free of cost, then MC will be:
  29. Technological Progress (Invention) can be defined as:
  30. If a firm is producing output at a point where diminishing returns have set in, this means that: