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Business Economics - Business Economics Section 1

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36. Consider the oligopoly models
(i) Sweezy's kinked demand curve models
(ii) Newman and Morgenstern game theory model
(iii) Coumal's duopoly model
(iv) Baumal' s sales maximum model Arrange them in the correct sequence as per the order of evolution

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37. Consumer attains equilibrium when he maximizes his utility, given his income and market price of two product of
(i) The marginal rate of substitution be equal to the ratio of commodity price i.e.
MRSxy = MUx / MUy = Px /Py
(ii) An indifference curve is convex to the origin.

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38. The collective demand of all persons in the market is referred to as

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39. The ordinal measure of utility is required in

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40. Arrange the following books in order (year) in which they appeared.
(a) Economic Theory and Operations Analysis by W.J. Baumol
(b) An introduction to positive economics by KG. Lipsey
(c) Economics by P. Samuelson
(d) Managerial Economic of Joel Dean

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Business Economics Section 1