Zero (perfectly inelastic)

Equal to one (unitary elastic)

Infinite (perfectly elastic)

None of the above

**According to Leontief technology, there:****Economics define technology as:****A monopoly producer has:****Cross-elasticity of demand or cross-price elasticity between two perfect complements will be:****The game theory takes into consideration:****Utility is a function of:****At low prices, demand is likely to be:****The total revenue curve for monopolist is the shape of:****Change in demand (rise and fall of demand) is:****MC is given by:****Discriminating monopoly implies that the monopolist charges different prices for his commodity:****If X and Y are close substitutes, a rise in the price of X will lead to:****The proportionality rule in production requires that the ratios of MP and factor prices are:****In the perfect competition, there is a process of:****A firms profit is equal to:****Supply curves are most elastic:****In an indifference curve diagram, when the price of a product increases, the decline in quantity demanded…****A country is advised to devalue (reduce external value of) its currency only when its exports face:****In modern theory, LAC = LMC after the attainment of:****The production possibility curve (PPC) is concerned with:****At the shut-down point in perfect competition:****The output where TC = TR & AC = AR:****The long-run AC curve is constructed from:****Under Bandwagon effects, people use those goods which are used by their:****Income-elasticity of demand is expressed as:****Income -elasticity of demand will be zero when a given change in income brings about:****The short-run supply curve of the perfectly competitive firm is given by:****Production is a function of:****When the slope of a demand curve is infinite (also known as horizontal demand curve) then elasticity…****If the demand curve is horizontal then its slope is:**