With the decrease in marginal valuation of a specific commodity, the price offered by the people:
Decreases
Increases
Become very high
Remain unchanged
- Production is a function of:
- The demand of the luxuries is:
- The optimum level of output in long run takes place where:
- The cross-price elasticity of the demand for orange juice with respect to the price of apple juice is…
- In monopolistic competition, the aim of the firm is to:
- Cartel is associated with:
- In Bertrand model, the entry of new firms is:
- The slutsky demand curve includes:
- If the commodity is inferior then Income Effect (I.E) is:
- Which of the following is called Gossens first law?
- Diminishing returns occur when a firm:
- The marginal revenues are derivatives of:
- If production increases under constant returns to scale, the cost will:
- The elliptical isoquant represents the:
- Which one of the following is also known as Plant Curves:
- The demand curve of a firm in monopolistic competition is:
- Variable costs refer to:
- Least cost combination of two factor inputs is achieved at a point where:
- Market demand curve is:
- Excess capacity is not found under:
- All money costs can be regarded as:
- The Purchasing Power Parity (PPP) Theory is presented by:
- Marginal utility is only meant for:
- If the supply curve is not a straight line but curvilinear, the elasticity on all points of the supply…
- According to Robbins, economics is a:
- Increasing returns imply:
- The equilibrium of a firm is determined by the equality of MC and MR in only:
- In monopoly and perfect competition, TC curves are:
- According to Marshal, the Law of Diminishing Returns is applicable to:
- Stable cobweb model is a: