Perfect elasticity (infinitely elastic)
Relative elasticity (greater than one elasticity)
Perfect inelasticity (zero elasticity)
Relative inelasticity (less than one elasticity)
D. Relative inelasticity (less than one elasticity)
All consumers are alike
Incomes of all consumers is the same
Tastes of all consumers are the same
Consumers differ in taste, incomes and other matters
The different combinations of X and Y higher and lower without actually measuring the difference of utility between them
The different combinations of X and Y higher and lower and measuring the difference of utility between them
Different combination of X, Y and Z
None of above
a = ½
� = ½
Both of them
None of them
Income Consumption Curve (ICC)
Engels Curve
Price Consumption Curve (PCC)
Production Possibility Curve (PPC)
U
V
P
S(inverted)
Friends
Relatives
Family
All of them
Monopoly
Monopolistic competition
Perfect competition
Any market form
Monetary units
Physical units
Relative units
Constant units
The price of substitute does not change
The taste of the consumer does not change
The income of the consumer does not change
All of the above
Immediate-run decision
Market period decision
Short-run decision
Long-run decision
When elasticities of demand in different markets are the same at the ruling price
When elasticities of demand are different in different markets at the ruling price
When elasticities cannot be known
When elasticities of demands are zero in different markets at the rulling price
Improvements in its technology
Fall in the prices of other commodities
Fall in the prices of factors of production
All of the above
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
Same cost conditions
Different cost conditions
Same price conditions
Same products conditions
Physical science
Social science
Natural science
Basic science
Total units /No. of Revenues
Total Revenue/No. of Units
Marginal Revenue × Units
Total Units/ Price
Competitors will follow a price increase but not a price cut
Competitors will follow a price increase as well as a price cut
Competitors will ignore both a price increase and a price cut
Competitors will ignore a price increase but will follow a price cut
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
Pricing of two factors
Productivity of the two factors
Degree of substitutability of two factors
None of the above
Both move together and reinforce each other
One moves and the other remains constant
Move in the opposite direction and neutralize each other
Both remain constant
Deviates from his strategy
Does not deviate from his strategy
Does not think in a good way
None of the above
Rise
Fall
Remain unchanged
Change depending on respective elasticities
Market price
Equilibrium price
Long-term price
Short-term price
Attract more customers
Prevent its customers from going to others
Establish superiority of its product on the others
All of the above
Specialization of labor
Technological advancement
Marketing economics
Varying factor proportions
The price of the commodity
The time period
The price of substitutes
Any of the above
Marshal
J.R.Hicks
Adam smith
Rostow
Be similar
Not be similar
Equal
None of the above
Monopoly
Oligopoly
Imperfect competition
Perfect competition
Wages of the labor
Charges of electricity
Interest on owned money capital
Payment for raw materials