Steps downwards at first and then upwards
Steps upwards, then remains constant and then falls
Steps downwards
None of the above
A. Steps downwards at first and then upwards
Straight line
Convex to origin
Concave to origin
Lshaped
Total cost or total variable cost
Total explicit cost
Total fixed cost
Total implicit cost
Slutsky approach
Hicksian approach
Marshallian approach
None of the above
Demand curve is more than supply curve
Supply curve is more than demand curve
Supply curve is equal to demand curve
None of the above
Maximum
Minimum
Equal
Lower
Enforce contracts
Make contracts
Make negotiations
Do not make negotiations
K.N.Raj
Amartiya Sen
A.C.Pigou
Alfred Marshal
Average cost
Marginal cost
Fixed cost
Variable cost
Upward shift of the demand curve
Downward shift of the demand curve
Movement on the same demand curve
None of the above
Aggregates of the economy
Few units of the economy
Large units of the economy
Individual units of the economy
Irving Fisher
J.B.Clark
J.M.Keynes
Gunnar Myrdal
The demand for soybeans should increase
The supply of soybeans should increase
The demand for soybeans should decrease
The supply of soybeans should decrease
Get noticed by the rival firms
Get unnoticed by the rival firms
Get noticed by the employees of the rival firms
None of the above
Style
Consumer
Cost
Material
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
All buyers and sellers have perfect knowledge of the market
Freedom of entry of firms into the industry
Homogeneous product
All of the above
J.B.Clark
L.Euler
J.A.Schumpeter
Alfred Marshal
Nil resources
Limited resources
Many resources
Extra resources
LAC = LMC
SAC = LMC
SAC =MC
SAC =LAC
Choices
Preferences
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
Monopoly
Monopolistic competition
Oligopoly
Perfect competition
Negative
Zero
Positive
Infinite
Uniform
Different
Dependent
Independent
Marginal cost curves
Average cost curves
Total cost curves
None of the above
Of the last unit of production
Of marginal unit
Of marginal efficient units
Of the average units of production
In nominal income
In money income
In wages
In real income because of the fall of price of a commodity
Tea and sugar
Tea and coffee
Pen and ink
Shirt and trousers
An increase in supply of coca cola
A decrease in supply of coca cola
An increase in demand for coca cola
A decrease in demand for coca cola
He should be condemned
He may lose his respect from society
He should be punished
He should not be punished or even criticised