"Utils" is a term used
A. | To mean marginal utility |
B. | By Walras to measure cardinal utility |
C. | By Marshal in Demand theory |
D. | None of the above |
Option: B Explanation : Click on Discuss to view users comments. |
Iso-quants are also known as
A. | Equal cost curves |
B. | Equal revenue curves |
C. | Equal product curves |
D. | Indifference curves |
Option: C Explanation : Click on Discuss to view users comments. |
A set of all possible production combinations while producing two commodities is
A. | Iso cost line |
B. | Isoquant map |
C. | Production possibility curve |
D. | Production functions |
Option: C Explanation : Click on Discuss to view users comments. |