A. | Price Elasticity of Demand |
B. | Cross Elasticity of Demand |
C. | Ionic Elasticity of Demand |
D. | Advertising Elasticity of Demand |
Option: B Explanation : Click on Discuss to view users comments. |
Demand has the following elements
A. | Quantity |
B. | Price |
C. | Time |
D. | All of these |
Option: D Explanation : Click on Discuss to view users comments. |
A. | Under perfect competition a firm determine its price where AR = IVIR |
B. | In perfect competitive industry a firm is in equilibrium in the short run only when its AC = AR = IVIR = MC. |
C. |
The short-run supply curve has a negative slope
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D. | A firm is price-taker under perfect competition. |
Option: D Explanation : Click on Discuss to view users comments. |
A. |
lnflation and employment in a growing economy.
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B. | The best way to invest in the stock market |
C. |
Business decision making under foreign competition
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D. |
Individual and social choice in the face of scarcity.
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Option: D Explanation : Click on Discuss to view users comments. |
A. |
Ratios of marginal utilities and price of the respective goods are equal
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B. |
Ratio of marginal utilities of the two goods is equal to the ratio of their respective prices
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C. |
The marginal rate of substitution is equal to the ratio of prices of the two goods.
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D. | The marginal rate of substitution is decreasing. |
Option: D Explanation : Click on Discuss to view users comments. |