Who wrote Mathematical Analysis for Economists?
J.P.Lewis
R.G.D.Allen
Paul A.Samuelson
E.D.Domar
Correct Answer :
B. R.G.D.Allen
Related Questions
The expansion point is attained by joining:
Similar optimal combinations
Different optimal combinations
Both of them
None of them
If the demand for good is less elastic and government levied a tax per unit of output, the price per unit for the firm would:
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
Price discrimination occurs when:
Different prices are charged to different consumers for homogenous products
Same prices are charged for differentiated products
Different prices are charged for homogenous goods for successive units to the same customer
Any of the above condition is present
The point on which the average cost is minimum in a firm, short run average cost curve will also be the minimum cost point on the firms long-run average cost curve. This is true:
Always
Never
When LAC is falling
Only at that level of output when LAC is at its minimum
If cross-elasticity of one commodity for another turns out to be zero, it means they are:
Close substitutes
Good complements
Completely unrelated (independent goods)
None of the above
In monopoly and perfect competition, TC curves are:
Different
Similar
Opposite
None of the above
If the demand curve is horizontal then its slope is:
Infinite
Zero
Equal to one
None of the above
A firms profit is equal to:
R-C
R>C
R
R=C
The Law of Equi-Marginal Utility states:
per income rupee
At the point where a straight line demand curve meets the quantity axis (x-axis), elasticity of demand is:
Equal to zero
Equal to one
Equal to infinite
More than one
When SAC curve rises, SMC curve lies its:
Below
Above
Equal level
None of the above
Repetition of a game (Repeated Game):
Yields the same outcome over and over
Can result in behavior that is different from what it would be if the game were played once
Is not possible
Makes cooperative games into noncooperative games
A firm is a sum of persons who convert:
Goods into services
Output into inputs
Inputs into outputs
None of the above
The standard form of demand function is:
Q = a- bP
Y = a- bP
Q = a+ bP
The number of sellers in duopoly is:
A few
Four
Two
Very large
7.The costs which the firms have to face in order to change the price tags of their products and services are called:
Product costs
Real costs
Menu costs
Nominal costs
Moving down along a linear demand curve:
Demand becomes less elastic
Elasticity does not change
Demand has unitary elasticity
Demand becomes more elastic
Necessary condition for consumer equilibrium is:
The combination of labor and capital where the cost of a given output is minimized is known as:
Least cost factor combination
Optimum factor combination
Both a and b
None of them
An increase in the supply of a commodity is caused by:
Improvements in its technology
Fall in the prices of other commodities
Fall in the prices of factors of production
All of the above
If a good is an inferior good then an increase in incomes of the consumers will:
Increase demand for the good
Increase supply of the good
Reduce the equilibrium price of the good
None of the above
If the price of product A decreases and in the result the demand for product B increases then we can say that:
A and B are substitute goods
A and B are complementary goods
A is an inferior good
B is an inferior good
Regarding economic decisions, economics of uncertainty identifies:
No risks
Risks
Safety
None of the above
If two goods are complements then indifference curve (IC) will be:
Straight line
Convex to origin
Concave to origin
Lshaped
The basic and essential economic problems in a community are related to choice and:
Freedom
Scarcity
Social class
Politics
The general markets results from the imposition of price ceilings has been:
Higher prices
Increased prices
Increased consumption
Shortage of products
The ordinal approach was presented by:
Marshal
J.R.Hicks
Adam smith
Rostow
Scarcity is:
A relative term
An economic term
A dynamic term
As a whole term
In case of monopoly, the price charged against the additional unit is:
Not different
Same
Not same
Zero
The name of the system of direct exchange is:
Price system
Barter system
Islamic economic system
Socialistic system