Ceteris paribus, a change in the price of a commodity causes the quantity purchased of its complements to move
A. | In an insignificant manner |
B. | In the opposite direction |
C. | In the same direction |
D. | cannot be known |
Option: B Explanation : Click on Discuss to view users comments. |
The Law of equi-marginal utility tells that if price of commodity falls
A. | More units of it will be bought |
B. | Same units of it will be bought |
C. | Less units of it will be marginal bought |
D. | Nothing of it will be bought |
Option: A Explanation : Click on Discuss to view users comments. |
Each short-run average cost curve coincides with long run cost curve
A. | At middle point |
B. | At lower point |
C. | At upper point |
D. | No permanent position |
Option: B Explanation : Click on Discuss to view users comments. |