The standard form of demand function is:

A. Q = a- bP


C. Y = a- bP

D. Q = a+ bP

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  1. If a person behaves against the laws of economics then:
  2. In Edgeworth model, prices oscillate between:
  3. An economic model describing the working of an economy consists of:
  4. An economic theory is :
  5. Which of the following is not a feature of isoproduct curves?
  6. If a straight line supply curve makes an intercept on the X-axis, the elasticity of supply is:
  7. When price increases and with it the total outlay on a commodity also increases, it is a case of:
  8. For a commodity giving large consumers surplus, the demand will be:
  9. In monopolistic competition, the firm compete on the basis of:
  10. The longer the period of time, the elasticity of supply will be:
  11. Which is not a central problem of an economy?
  12. According to current thinking, the law of diminishing returns applies to:
  13. 4.The Law of Diminishing Returns according to the modern view, applies to:
  14. To calculate the Economic Profit we must deduct which of the following cost from our total revenues?
  15. According to Marshallian approach, utility:
  16. In respect of which of the following category of goods is consumers surplus highest?
  17. Change in demand (rise and fall of demand) is:
  18. Average cost curve contains in it:
  19. The behavior of MC curve is determined by the behavior of the:
  20. The relationship between AC and MC curves depend upon the behavior of:
  21. The number of sellers in oligopoly are:
  22. The number of firms in monopolistic competition normally range between:
  23. Total utility and price are:
  24. If the increase in demand is more than the increase in supply, the price will:
  25. The slutsky demand curve includes:
  26. In monopolistic competition, the firms have to face:
  27. The budget-line is also known as the:
  28. Who wrote Economics of Imperfect Competition?
  29. Human wants are:
  30. Monopoly means: