1. For ____ goods, increase in income leads to increase in demand.
2. In the case of a Giffen good, the demand curve will be
3. The law of consumer surplus is based on
4. An isoquant slopes
5. Demand for final consumption arises in
6. When as a result of decrease in price of good, the total expenditure made on it decreases we say that price elasticity of demand is
7. The structure of the cold drink industry in India is best described as
8. Under which market structure, average revenue of a firm is equal to its marginal revenue
9. In economics, what a consumer is ready to pay minus what he actually pays, is termed as
10. The producer is in equilibrium at a point where the cost line is
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