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41. Study of demand over two periods is called
Static
Comparative static
Dynamic
None of these
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42. In case of monopoly, a firm in the long run can have
Loss
Super Normal Profit
Break even
All of these
43. Marginal cost curve cuts the average cost curve from below at
its lowest point
the left of the lowest point
right of the lowest point
All of the above
44. On an indifference map, if the income consumption curve slopes downwards to the right it shows that
Both X and Y are superior goods
Y is an inferior good
X is an inferior good
Both X and Y are inferior goods
45. Impact of change in demand in one sector on other sectors is studied by
General equilibrium
Partial equilibrium
Both (a) and (b)
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