(a) Desire for that commodity(b) Need for that commodity(c) Quantity demanded of that commodity(d) Quantity demanded at a certain price during any particular period of …
If the average total cost is declining then
(a) the marginal cost must be less than the average total cost(b) total cost must be constant(c) the average fixed cost curve must be above …
The average fixed cost curve will always be
(a) a rectangular hyperbola(b) a downward sloping convex to the origin curve(c) a downward sloping straight line(d) a U-shaped curve
The income elasticity of demand for inferior goods is
(a) less than one(b) less than zero(c) equal to one(d) greater than one
Which one among the following is a fixed cost to a manufacturing firm in the short run?
(a) Insurance on buildings(b) Overtime payment to worker(c) Cost of energy(d) Cost of raw materials
Brent index is associated with
(a) crude oil prices(b) copper future prices(c) gold future prices(d) shipping rate index
What is meant by ‘Public Good’?
(a) A commodity produced by the Government(b) A commodity whose benefits are indivisibly spread among the entire community(c) A Government scheme that benefits the poor …
What is meant by price discrimination?
(a) Increase in price of a commodity over time(b) A situation where the same product is sold to different consumers fordifferent prices(c) Subsidization of a …
Which of the following is not a ‘Public Good’?
(a) Electricity(b) National Defence(c) Light House(d) Public Parks
Which of the following statements is true about supply-side economics?
(a) The main change made by the tax laws of 1981 and 1986 was toincrease marginal tax rates in order to balance the budget(b) The …