Concave to X-axis
Convex to X-axis
Concave to Y-axis
Convex to Y-axis
A. Concave to X-axis
Increases
Decreases
Remains constant
Becomes zero
We do not need to attach util values to consumption
Consumers can attain higher utility
It takes into account how much income the household has
We can determine how much of one good the consumer is willing to sacrifice in order to consume one more unit of another
Below
Above
Equal level
None of the above
TR equals TC
The TR curve and the TC curve intersect such that TR and TC lie at the same point
The TR curve and the TC curve are parallel and TC exceeds TR
The TR curve and the TC curve are parallel and TR exceeds TC
Warehouses
Buildings
Dams
Share of stock
Enforce contracts
Make contracts
Make negotiations
Do not make negotiations
Developed economy
Laissez-fair economy
Mixed economy
Capitalistic economy
The AVC curve
The AFC curve
The AC curve
The MC curve
Input prices
Technological innovations
Both of them
None of them
Science of wealth
Science of national welfare
Science of optimality
Science of scarcity
Decreasing returns to scale
Constant returns to scale
Increasing returns to scale
maximum returns to scale
All factors are variable
There is a fixed factor and variable factor
All factors are non-variable
None of the above
SACs
LACs
SMCs
LMCs
Average revenue curve lies above the marginal revenue curve
Average revenue curve coincides with the marginal revenue curve
Average revenue curve lies below the marginal revenue curve
Average revenue curve is parallel to the marginal revenue curve
Monopoly
Monopolistic competition
Oligopoly
Perfect competition
Output is maximum
Profit is maximum
Revenues are maximum
Profit is minimum
J.P.Lewis
R.G.D.Allen
Paul A.Samuelson
E.D.Domar
In the short-run under perfect competition
In the long-run under perfect competition
In the short-run under monopolistic competition
In the long-run under monopolistic competition
When each firm is in equilibrium equating MC with MR
When all the firms are earning only normal profits
When firms outside have no tendency to enter the industry and those within, have no tendency to leave the industry
All of the above
More than maximum output
More than minimum output
Less than maximum output
Less than minimum output
Total expenditures increases
Total expenditures decreases
Total expenditures are zero
Total expenditures remain same
David Ricardo
Alfred Marshal
J.S.Mill
Karl Marx
Pricing of two factors
Productivity of the two factors
Degree of substitutability of two factors
None of the above
Complements
Close substitutes
Both a and b
None of the above
L-shaped
J-shaped
M-shaped
V-shaped
Goods into services
Output into inputs
Inputs into outputs
None of the above
Price
Entry
Both a and b
None of the above
Independence of firms
Interdependence of firms
Independence of individuals
Interdependence of materials
Other things being equal
Because of this
Due to this
All the factors changes at the same rate
A few
Four
Two
Very large