Zero (perfectly inelastic)
Equal to one (unitary elastic)
Infinite (perfectly elastic)
None of the above
C. Infinite (perfectly elastic)
Equal MU from both commodities X and Y
More MU from commodity X than from commodity Y
More MU from commodity Y than from commodity X
Equal marginal utility from the last rupee spent on commodity X and commodity Y
Greater than one
Less than one
Zero
Equal to one
Perfectly elastic
Elastic
Unitary elastic
Inelastic
1756
1777
1776
1801
Parallel to each other
Dependent upon each other
Independent of each other
Zero
More quantity demanded at a lower price
More quantity demanded at a higher price
More quantity demanded at the same price
None of the above
Ricardo
Adam Smith
Pigou
Samuelson
Ricardo
Marshal
Neomann and Morgenstern
Karl Marx
higher prices
zero prices
lower prices
specific prices
Zero (perfectly inelastic)
Equal to one (unitary elastic)
Infinite (perfectly elastic)
None of the above
Increasing marginal utility
Decreasing marginal utility
Zero marginal utility
Negative marginal utility
In ordinal approach we can separate the income effect from the substitution effect of a price change
In ordinal approach we can study the consumer behavior more closely
In ordinal approach the consumer is assumed more rational
In ordinal approach the consumer has more income
Where marginal cost is minimum
Where average cost is minimum
Where both the marginal and the average cost curves are at their respective minimum
Where the firm earns the maximum profits
A fall in price
A decrease in the number of firms in the long-run
A decrease in the output of each firm
All of the above
Per unit revenue received from all the units sold by the producer
Revenue of the units having average size
Total number of units× Revenue per unit
Total revenue × Number of units sold
David Ricardo
Alfred Marshal
J.S.Mill
Karl Marx
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
1910
1945
1900
1940
Gunnar Myrdal
N.Kaldor
A.C.Pigou
J.K.Galbraith
Applies on both money and other commodities
Does not apply on money
Does not apply on bank money but applies on cash money
Applies on all the commodities except on money
Weak orderings
Neutral orderings
Partial orderings
Strong orderings
Statements of various assumptions or postulates
Logical deductions from the assumptions made
Testing the hypothesis against empirical evidence
All of the above
Only when the price of commodity X changes
Only when the price of commodity Y changes
Only when the consumers income is varied
None of the above
Perfect elasticity (infinitely elastic)
Perfect inelasticity (zero elasticity)
Unit elasticity
Zero elasticity (infinitely inelastic)
important
materialized
accepted
rejected
The rising portion of its MR over and above the break-even (shut-down) point
The rising portion of its MC over and above the break-even (shut-down) point
The rising portion of its MC over and above the AC curve
The rising portion of its MC curve
Can be added
Can be subtracted
Can be multiplied
Can be divided
Producers
Workers
Managers
Consumers
Concave to X-axis
Convex to X-axis
Concave to Y-axis
Convex to Y-axis
Change in the tastes of consumers at different prices
The rate of response of demand to a change in supply
The change in costs when output is increased by one unit
The responsiveness of demand to a change in price