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Economics
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Q481

Presented the idea of imperfect competition

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Q482

Assume that a PPC for wheat and rice is drawn so that it is a straight line. This means that

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Q483

The first clear and satisfactory explanation of rent was given by

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Q484

The magnitude of the slope of an indifference curve is the

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Q485

At present the base year for measuring national income at constant prices is

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Q486

For the following statement of Assertion (A) and Reasoning (R) select the correct answer:
Assertion (A): Price reduction normally leads to an increase in the demand for a commodity.
Reason (R): Price reduction leads to the entry of new buyers of the commodity in the market.

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Q487

Which of the following is not known as the 'law of equi-marginal utility'?

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Q488

If ∆I = Rs. 100 and marginal production cost Rs. 9 then National income will increase

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Q489

When there is a very small change in the price of a commodity and there is a great change in the demand, when the demand for such will be

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Q490

The method of finding NNP is-

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Q491

The marginal cost is equal is to marginal revenue, the average cost is equal to average revenue, average revenue is equal to marginal revenue, and the average cost is equal to marginal cost. This is the condition of
1. Long-period equilibrium for a firm under monopoly.
2. Short-period equilibrium for a firm under oligopoly.
3. Long-period equilibrium
4. Long-period equilibrium for a firm under perfect competition.

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Q492

The world economic crisis of which period has been called as the worldwide recession?

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Q493

A supply curve will have a price elasticity equal to 1 only when it is

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Q494

Cardinal utility measurement is required in

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Q495

In case, the elasticity of demand on an average revenue curve is equal to unity, the marginal revenue will be

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Q496

Prof. Gossen has talked about two psychological law of consumption. One of which is law of DMU. The second law is known as

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Q497

Given the demand function

q = \frac{20}{p},

where p = price of product and q = quantity of product, the elasticity of demand at p = 10 would be

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Q498

'Economics is the science of wealth'. This definition is given

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Q499

In the long run, equilibrium in perfect competition is attained when

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Q500

Who played the role of a catalyst in the green revolution of India?

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