61.
Which of the following is not an essential condition of pure competition?

62.
In market equilibrium, supply is vertical line. The downward sloping demand curve shifts to the right. Then

64.
If demand is inelastic, a change in the price

65.
Which one of the following pairs of commodities is an example of substitutes?

66.
Which one is the assumption of law of demand

67.
What is the shape of the demand curve faced by a firm under perfect competition?

68.
Ten rupees is the equilibrium price for good X. If government fixes the price at Rs.5, there is

69.
A rise in supply and demand in equal proportion will result in

70.
Zubair has a special taste for college canteen's hotdogs. The owner of the canteen doubles the prices of hotdogs. Zubair did not respond to the increase in prices and kept on demanding the same quantity of hotdogs. His demand for hotdogs is