Increased
Equalized
Prominent
Zero
B. Equalized
Adam Smith
Prof.Pigno
Prof. Robbins
J.B.Clark
LAC = LMC
SAC = LMC
SAC =MC
SAC =LAC
A stock concept
A flow concept
Both stock and flow
None of the above
Opportunity cost
Direct cost
Rent cost
Wage cost
The price of their product
Product quality
The shape of the market demand curve
The elasticity of product substitution
Producers
Sellers
Buyers
Sellers and buyers
a = ½
� = ½
Both of them
None of them
More units
Less units
Same units
Zero units
Face losses
Avoid losses
Bear losses
Make economic decisions
In nominal income
In money income
In wages
In real income because of the fall of price of a commodity
Determination of the rate of interest
Determination of the market price
Determination of the wage rate
Determination of production of firm
Recessive strategy
Dormant strategy
Dominant strategy
Hidden strategy
A function of price alone
A result of change in tastes
A result of increase in the size of the family
None of the above
Choices
Preferences
Both a and b
None of the above
Normal profits
Abnormal profits
Differential profits
No profits
Agriculture
All fields of production
Industry
Services
Borne mostly by producers
Borne mostly by consumers
Borne mostly by government
Shared equally by producers and consumers
A straight line curve
A downward sloping demand curve
A rectangular hyperbola demand curve
None of the above
Policy on trade
Policy against inflation
The making of index numbers
Labor theory
Money and exchange
Quantity and production
Production and consumption
Money and quantity
Total stock of a commodity in the market
Total production of a commodity during the year
Total production plus total stock of a commodity
Amount of commodity offered for sale at some price at a particular place and time
Economic complements
Economic substitutes
Economic inferiors
None of the above
Giffen goods
Necessities
Luxuries
Prestige goods
All of the consumer surplus
All of the producer surplus
Some part of the consumer surplus
None of them
That how many utils are obtained from consuming different bundles of commodities
Different collections of two commodities the consumer considers to be of equal value
That if price increases there will be an increases in demand
None of the above
All factors are variable
There is a fixed factor and variable factor
All factors are non-variable
None of the above
Wages of labor
Factor pricing
Theory of rent
Determination of the rate of interest
Rise by the amount of the tax
Rise by more than the amount of the tax
Rise by less than the amount of the tax
Remain the same
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
Perfect elastic (infinitely elastic)
Relatively elastic (greater than one elasticity)
Unit elastic
Relatively inelastic (less than one elasticity)