| A. |
When the consumer becomes either better off or worse off because price change is not compensated by income change.
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| B. |
When the consumer is betler off due to a change in income and price
|
| C. | When income and price change |
| D. | None of the above |
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Option: A Explanation : Click on Discuss to view users comments. |
A situation where there is only one buyer is called
| A. | Monopoly |
| B. | Oligopoly |
| C. | Monopsony |
| D. | Perfect competition |
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Option: C Explanation : Click on Discuss to view users comments. RajpolBharadwaj said: (11:44pm on Wednesday 25th October 2017)
Why not monopoly? As per i am concern it is monopoly.
smritishukla said: (3:30am on Friday 29th December 2017)
its talking abt buyer not the seller....in monopoly there is a single seller but many buyers
Sachin said: (3:38am on Sunday 25th February 2018)
Not monopoly it's monopsony
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Elasticity of demand measures the
| A. |
Sensitivity of sales to changes in a particular causal factor
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| B. |
Sensitivity of production to changes in a particular cost
|
| C. | Value of price and cost |
| D. | Volume of product |
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Option: A Explanation : Click on Discuss to view users comments. |
Factors responsible for creating conditions for emergence and growth of monopoly are
| A. | Control over strategic raw materials |
| B. | Patents |
| C. | Licensing |
| D. | All of the above |
|
Option: D Explanation : Click on Discuss to view users comments. |
