TU curve
MU curve
Supply curve
None of the above
B. MU curve
Charges a high price
Produce more output
Increase economic efficiency
None of the above
Less quantity demanded at the same price
Less quantity demanded at a higher price
Less quantity demanded at a lower price
None of the above
Attract more customers
Prevent its customers from going to others
Establish superiority of its product on the others
All of the above
Donot change
Change
Both a and b
None of the above
There is perfect information about prices
All participants in the market are small relative to the size of the overall market
There are many buyers and sellers
Buyers and sellers do not know each other
Ricardo
Marshal
Chamberlin
Mrs. Robinson
Different prices are charged to different consumers for homogenous products
Same prices are charged for differentiated products
Different prices are charged for homogenous goods for successive units to the same customer
Any of the above condition is present
Helps in separating the income effect and the substitution effect
Does not help in separating the two effects
Mixed up the two effects
None of the above
The supply curve will shift down or right
The supply curve will shift up or left
Both demand and supply curve shifts would occur
None of the above
All of the consumer surplus
All of the producer surplus
Some part of the consumer surplus
None of them
Slutsky approach
Hicksian approach
Marshallian approach
None of the above
Increasing returns to scale
Decreasing returns to scale
Constant returns to scale
Variable returns to scale
S.Chakravarty
J.S.Mill
A.C.Pigou
F.W.Taussig
Rising cost
Falling cost
Rising input
Falling input
His output is maximum
He charges a high price
His average cost is minimum
His marginal revenue is equal to marginal cost
Every firm will earn economic profit
Every firm will incur losses
Every firm will earn only normal profit
The marginal firm will earn no profit
Thousands
Few
Innumerable
Hundreds
x =a-bp
x =b-ap
x = f(P)
Classical approach
Keynesian approach
Neo-classical approach
Modern approach
N.Kaldor
Alfred Marshal
J.M.Keynes
J.S.Duesenberry
Who must sacrifice fewer units of every other goods than any other producer
Who can produce more X per hour than any other producer
Who must sacrifice more units of every other goods than any other producer
None of the above
Competitive firm
Oligopolistic firm
Monopolist firm
None of the above
Long run
Short run
Average run
None of the above
Inelastic demand in foreign markets
Elastic demand in foreign markets
Unit elastic demand in foreign markets
None of the above
An inferior good
A giffen good
A normal(or superior) good
None of the above
In the immediate run
In the short run
When the supply is perfectly elastic
When producers have sufficient time to fully adjust to the demand change
Equal to zero
Equal to one
Equal to infinite
More than one
Equal level of output
Unequal level of outputs
Equal level of inputs
Unequal level of inputs