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16. Price elasticity of demand provides
A measure of the responsiveness of the quantity demanded to changes in the price of the product, holding constant the values of all other variables in the demand function.
A technical change in the goodwill of the firm
A technical change in the cost of product
Technical change in the value.
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17. Demand curve is related to
MU curve
Marginal revenue
Both (a) and (b)
None of these
18. Market with one buyer and one seller is called
Monopsony
Monopoly
Bilateral Monopoly
None of the above
19. The upper portion of the kinked demand curve is relatively
More inelastic
More elastic
Less elastic
Inelastic
20. Which of the following is an important dynamic variable?
Superior's style and behaviour
Organisational nature
The task structure
Cultural variables
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