Gunner Myrdal
A.C.Pigou
J.M.Keynes
J.R.Hicks
D. J.R.Hicks
important
materialized
accepted
rejected
Increasing returns to scale
Decreasing returns to scale
Constant returns to scale
Variable returns to scale
Product costs
Real costs
Menu costs
Nominal costs
A specific tax on the monopolists output
A price ceiling that make the monopolist lower his price
A price floor that make the monopolist raise his price
A heavy tax on the monopolists profit
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None of the above
Cost of the average units
Cost of the last units of average
Cost of the unit of production
Total cost marginal cost
degree one
degree zero
degree less than one
degree greater than one
Market price
Equilibrium price
Long-term price
Short-term price
That how many utils are obtained from consuming different bundles of commodities
Different collections of two commodities the consumer considers to be of equal value
That if price increases there will be an increases in demand
None of the above
One
Zero
Two
Five
Price is a dependent variable and quantity is an independent variable
Price is an independent variable and quantity is a dependent variable
Price and quantity both are independent variables
Price and quantity both are dependent variables
An upward pressure on price
A downward pressure on price
Price will remain unaffected
All of the above
Equating price and marginal revenue
Equating price and average total cost
Increasing marginal cost and lowering fixed costs
Equating marginal cost and marginal revenue
R.Nurkse
R.C.Mathews
W.A.Lewis
K.N.Raj
Marginal propensity to consume
Marginal propensity to save
Liquidity preference
All of the above
Inelastic demand in foreign markets
Elastic demand in foreign markets
Unit elastic demand in foreign markets
None of the above
Perfect elasticity (infinitely elastic)
Relative elasticity (greater than one elasticity)
Perfect inelasticity (zero elasticity)
Relative inelasticity (less than one elasticity)
Two
Many
Four
Very few
Producer
Consumer
Seller
Firm
Downwards to the right
Upwards to the right
Backwards to the top
Inwards at the bottom
When he cannot produce at an economic profit
When price falls short of average variable cost at every level of output
When price falls short of average fixed cost at every level of output
When price falls short of average total cost at every level of output
Demand curve is more than supply curve
Supply curve is more than demand curve
Supply curve is equal to demand curve
None of the above
Are downward sloping to the right
Show different input combination producing the same output
Intersect each other
Are convex to the origin
Monopoly
Oligopoly
Imperfect competition
Perfect competition
Negative
Positive
Zero
Infinite
TU curve
MU curve
Supply curve
None of the above
Sets of points relating production function that maximizes output given input (labor) i.e. Q = f(L, K)
Sets of points relating production function that produces less output than possible for a given set of input (labor) i.e. Q < f(L, K)
Use of imported technology
None of the above
A strategy taken by a dominant firm
A strategy taken by a firm in order to dominate its rivals
A strategy that is optimal for a player no matter an opponent does
A strategy that leaves every player in a game better off
Rise by the amount of the tax
Rise by more than the amount of the tax
Rise by less than the amount of the tax
Remain the same
Engels curve
Production indifference curve
Budget line
Ridge line