Complements
Close substitutes
Both a and b
None of the above
B. Close substitutes
Both parties make better-off
Both parties make worse-off
Both parties become Neutral
Both parties can become better off or worse off
SACs
LACs
SMCs
LMCs
Profits
Costs
Inputs
Price
Stable
Unstable
Negative
Neutral
Cost of the average units
Cost of the last units of average
Cost of the unit of production
Total cost marginal cost
Adam Smith
Prof.Pigno
Prof. Robbins
J.B.Clark
Excess demand
Qd > Qs
Shortage of supply
All of the above
Market price
AVC
TFC
AFC
A given quantity of output that can be produced by various combinations of two inputs
Varying quantities of output that can be produced by the same combination of two factors
Combination of two factors that can give the least cost of production
Combination of two goods that cost the same amount to the producer
Income effect
Price effect
Substitution effect
None of the above
Input factor
Heavy factor
Output factor
Load factor
Negative
Positive
Infinite
Zero
Nil resources
Limited resources
Many resources
Extra resources
Freedom and Reform
The Green Revolution
Economic Integration
Risk ,Uncertainty and Profit
Zero (perfectly inelastic)
Equal to one (unitary elastic)
Infinite (perfectly elastic)
None of the above
Increase in demand for Y
Decrease in demand for Y
Increase in demand for both X and Y
Increase in demand for Y
Perfect elastic (infinitely elastic)
Relatively elastic (greater than one elasticity)
Unit elastic
Relatively inelastic (less than one elasticity)
Negative
Positive
Infinite
Zero
Consumers prefer to have less satisfaction than more of both commodities
As more and more of one commodity is obtained, less and less of the other must be given up to keep satisfaction constant
The total satisfaction obtained along an indifference curve decreases at an increasing rate
None of the above
Planned products curve
Planned material curve
Planned costs curve
Planned sales curve
Increasing returns to scale
Decreasing returns to scale
Constant returns to scale
Variable returns to scale
Modern and traditional industries
Public and private sectors
Foreign and domestic investments
Commercial and subsistence farming
not ignor the activities of the rival
ignor the activities of the rival
both a and b
none of the above
University professors
Computer components
Building materials
Jet airplanes
Labor theory of value
Individual theory of value
Producer theory of value
Consumer theory of value
Timeless phenomenon
Short run phenomenon
Long run phenomenon
None of the above
Desire for them
Purchases
Production
Consumption
An axiom
A proposition
A hypothesis
A tested hypothesis
Transportation costs
The interplay of demand and supply
Costs of production
The marginal product of labour
a = ½
� = ½
Both of them
None of them