14 to 28
14 to 80
14 to 38
14 to 60
B. 14 to 80
Immediate-run decision
Market period decision
Short-run decision
Long-run decision
Agriculture
All fields of production
Industry
Services
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
Price takers
Price setters
Price discriminators
None of the above
Friends
Relatives
Family
All of them
Aggregates of the economy
Few units of the economy
Large units of the economy
Individual units of the economy
Monopoly
Multi-plant monopoly
Bilateral monopoly
Price discrimination
Separately in different cells
Collectively in different cells
Collectively in same cell
Separately in same cell
the individuals
industry
firms
associations
Led the Russian Revolution
Provided the theoretical basis for socialism(communism)
Developed his theory in response to the Great Depression of the 1930s
None of the above
Distribution
Exchange
Market structure
Consumer behaviour
Inelastic demand
Elastic demand
Unit elasticity
Zero elasticity
Making a profit
Incurring a loss but should continue to produce in the short-run
Incurring a loss and should stop producing immediately
Making a normal profit
The price falls and the demand also falls down
The price increases but demand falls down
The price increases the demand remains constant and when the price remains constant the demand goes up
The price remains constant but demand falls
Decreasing returns to scale
Variable returns to scale
Constant returns to scale
Increasing returns to scale
Economic substitutes
Technical substitutes
Both a and b
None of the above
A utility function refers to a particular individual and reflects the tastes of that individual
When the tastes of an individual changes, his utility function changes(shifts)
Different individuals usually have different tastes and thus have different utility functions
Different individuals have same tastes and thus have the same utility function
banned
allowed
partially allowed
none of the above
Labor is variable
Labor is fixed
Capital is variable
None of the above
Straight line
Convex to origin
Concave to origin
Lshaped
Technological progress that causes to raise the marginal product of capital and labor in the same proportion
Technological progress that causes the marginal product of capital to increase relative to the marginal product of labor
Technological progress that causes the marginal product of labor to increase relative to the marginal product of capital
None of the above
Increased
Equalized
Prominent
Zero
Input
Output
Both of them
None of them
Save as much of his income as possible
Spend as much of his income as possible
Buy everything at the lowest possible price
Make wise choices among available economic goods
Output
Input
Demand
Price
Average requirement for it in any given place
Amount of it wanted at any given price
Amount that people would like to buy during a period at different prices
Quantity needed to maintain a given standard of living
At the left of its lowest point
At its lowest point
At the right of its lowest point
None of the above
Industrialists
Prisoners
Common men
Workers
stable cartel
unstable cartel
prominent cartel
special cartel
Consumer surplus
Zero
Two rupees
Excess demand