Managerial Economics

When the income elasticity of demand is greater than unity, the commodity is

Consider a demand curve which takes the form of a straight line cutting both axis elasticity at the mid-point of the line would be

The change to a new indifference curve following a rise in aggregate consumption caused by a price cut is:

Which of the following will not be considered while calculating national income by product method?

Marginal utility approach' was finalised by

The study of national income accounts is of great importance because it
1. reveals the changes in the size and composition of the national product.
2. provides us with information about the distribution of national income in the society among various groups.
3. reveals the manner in which national expenditure is divided between consumption and investment.

Which of the following is/are the causes of demand curves moving downwards to the right?

A rise in the price of a commodity will generally call forth a bigger supply and this will be brought about partly by existing firms expanding their output and partly by

Kinky demand curve hypothesis was put forward by

In the context of Prisoner's dilemma, which one of the following is correct?