Q381
Open questionSuppose the short run cost function can be written as TC=250 + 10Q. Average fixed cost equals
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Q382
Open questionPrice discrimination often favours public interest because it
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Q383
Open questionIn perfect competition, the demand curve of a firm is:
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Q384
Open questionMatch the following.
| List-I (Elasticity Coefficient) | List-II (Change in Total Revenue) |
| a. e = 0 | 1. Increase |
| b. e < 1 | 2. Decrease |
| c. e = 1 | 3. No change |
| d. e = ∞ | 4. Decrease to zero |
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Q385
Open questionThe elasticity of demand describes-
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Q386
Open questionThe phrase 'Payment by results' is more close to
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Q387
Open questionIf total production increases with the increases in variable factor, it is called
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Q388
Open questionThe price elasticity of demand for any product in the long run
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Q389
Open questionUnder perfect competition, a firm will be in equilibrium, when its AC is
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Q390
Open questionWhich of the following is the largest source of income of the government of India?
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Q391
Open questionSuppose a consumer buys only two goods A and B. When commodity A becomes cheaper with increase in consumer's income, it is seen that consumption of A has decreased and that of B has increased. This is because
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Q392
Open questionA consumer consuming two goods will be in equilibrium when the marginal utilities from both goods are
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Q393
Open questionIf we assume that price decreases and total expenditures increase we may conclude that elasticity of demand is
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Q394
Open questionA significant property of the Cobb-Douglas production function is that the elasticity of substitutes between input is
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Q395
Open questionGoods 'A' and 'B' are substitutes in production either good A or good B, then A and B are
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Q396
Open questionThe word demand should be used to mean the quantity demanded which is purchased at a fixed price
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Q397
Open questionThe example of Joint Demand is
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Q398
Open questionNormally shaped indifference curves are bowed towards the origin of the graph. The reason for this shape is
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Q399
Open questionMatch the following.
| List-I | List-II |
| a. Monopoly | 1. Single buyer, single seller |
| b. Oligopoly | 2. Single seller, many buyers |
| c. Monopsony | 3. Single buyer, many sellers |
| d. Duopoly | 4. Few sellers, many buyers |
| e. Bilateral monopoly | 5. Two sellers, many buyers |
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Q400
Open questionShutdown point referes to the state of loss in short run where a firm need to decide whether to continue with production activity or to suspend it. This point is decided under which condition?
1. AR = AVC
2. AR = MC
3. AR = TVC
4. AR = AC
1. AR = AVC
2. AR = MC
3. AR = TVC
4. AR = AC
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