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The slope of the iso-cost line (budget line) is determined by:

A. Pricing of two factors

B. Productivity of the two factors

C. Degree of substitutability of two factors

D. None of the above

Correct Answer : A.


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  2. If the supply and demand increases equally, the price will:
  3. Cross-elasticity of demand or cross-price elasticity between two perfect substitutes will be:
  4. In monopolistic competition, the firms have to face:
  5. In non-constant sum game (non-zero sum game), if there are two parties then:
  6. The Strategy of Economic Development is the work of:
  7. If X and Y are close substitutes, a rise in the price of X will lead to:
  8. Some economists refer to iso-product curves as:
  9. Average cost means:
  10. The number of sellers in oligopoly are:
  11. The cobweb model will convergent when the slope of:
  12. In income effect, we:
  13. The slope of marshallian demand curve is:
  14. The relationship between MC and MP shown by the marginal cost concept is:
  15. The slope of budget line shows the price ratios of:
  16. In case of budget line, we get pairs of two goods where consumers income is:
  17. Diminishing returns occur when a firm:
  18. Ordinal approach includes arranging:
  19. At the point where a straight line demand curve meets the quantity axis (x-axis), elasticity of demand…
  20. When the income of consumer increases then budget line will:
  21. Total fixed costs are:
  22. The greater the percentage of income spent on a commodity:
  23. The proportional demand curve in monopolistic competition (also in kinked demand curve model), is like…
  24. General Equilibrium deals with the equilibrium of the:
  25. The shape of the TC curve is:
  26. Who first formulated the Marginal Productivity Theory of Distribution?
  27. The substitution effect works to encourage a consumer to purchase more of a product when the price of…
  28. In monopoly, the relationship between average revenue and marginal revenue curves is as follows:
  29. In cournot model, each firm makes decision regarding:
  30. Consumers Surplus can also be defined as: