The concept of supply curve as used in economic theory is relevant only for the case of
A. | Oligopoly competition |
B. | Perfect or pure competition |
C. | Monopolistic competition |
D. | Monopoly |
Option: B Explanation : Click on Discuss to view users comments. |
Match the following :
(A) Principles of Economics 1. Gunnar Myrdal
(B) Diamond water paradox 2. J. K. Galbraith
(C) Value and Capital 3. Alfred Marshall
(D) Asian Drama 4. J. R. Hicks
(E) Language of Economics 5. Adam Smith
A. | (A) (B) (C) (D) (E) 5 2 3 1 4 |
B. | (A) (B) (C) (D) (E) 2 4 3 5 1 |
C. | (A) (B) (C) (D) (E) 1 2 3 5 4 |
D. | (A) (B) (C) (D) (E) 3 5 4 1 2 |
Option: D Explanation : Click on Discuss to view users comments. |
Other things being equal, an increase in supply can be caused by
A. | A rise in the income of the consumer |
B. | An improvement in the techniques of production |
C. | A rise in the price of the commodity |
D. | An increase in the income of the seller |
Option: B Explanation : Click on Discuss to view users comments. kishan singh rathore said: (6:38pm on Friday 8th September 2017)
Answer must be C i.e. A rise in the price of the commodity because supply increases with increase price
Ritika said: (10:42pm on Monday 29th January 2018)
yes, the answer could be C also.
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Match the following :
(A) Increasing cost industry 1. Horizontal long run supply curve
(B) Decreasing cost industry 2. Positively sloped long run supply curve
(C) Constant cost industry 3. Negatively sloped long run supply curve
A. | (A) (B) (C) 3 2 1 |
B. | (A) (B) (C) 1 2 3 |
C. | (A) (B) (C) 2 3 1 |
D. | (A) (B) (C) 2 1 3 |
Option: C Explanation : Click on Discuss to view users comments. Yassmin said: (1:06am on Sunday 11th February 2018)
when the cost increased the supply will decrease (negatively
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Direct regulation of business has the potential to yield economic benefits to society when
A. | diseconomies of scale exist. |
B. | barriers to entry are absent. |
C. | there are no good substitutes for a product. |
D. | many firms serve a given market. |
Option: C Explanation : Click on Discuss to view users comments. |