When the demand curve is rectangular hyperbola, it represents:
Unitary elastic demand
Perfectly elastic demand
Perfectly inelastic demand
Relatively elastic demand
- Monopolistic firm can fix:
- According to critics, the assumption of costless production is:
- Increasing returns is not caused by:
- In monopolistic competition, if a firm lowers its price, the rival firms will:
- Identify the author of The Principles of political Economy and Taxation:
- Identify the author of The Social Framework:
- In joint-profit maximization cartel, the distribution of profit is:
- When with a change in price the total outlay (expenditures) on a commodity remains constant, it is a…
- In the long run:
- Each firm in cournot model assumes that its competitor will:
- In case of monopoly:
- A fall in demand for the product under monopolistic competition will likely result in:
- A high value of cross-elasticity indicates that the two commodities are:
- If the commodity is inferior then:
- If the marginal utility of apples to a consumer exceeds that of bananas then the consumer:
- Contraction of demand means:
- An indifference curve shows the bundles of two goods among which a consumer remains:
- After reaching the saturation point consumption of additional units of the commodity cause:
- Marginal utility is only meant for:
- In case of short-run, the supply curve of an industry is the horizontal summation of:
- MC curve is:
- Production function relates:
- We can write ordinal utility function as:
- The vertical distance between TVC and TC is equal to:
- In an indifference curve diagram, when the price of a product increases, the decline in quantity demanded…
- If less is demanded at the same price or same quantity demanded at a lower price, it is a case of:
- For the given production function, technical efficiency is defined as:
- The minimization of costs subject to output requires equilibrium at the lowest:
- Income distribution effects:
- Normally when price per unit of time falls: