61. In a monopoly market, an upward shift in the market demand results in a new equilibrium with
62. A monopolist charging high price operates on
63. An agreement among firms in a market about quantities to produce or prices to change is called
64. A loss bearing firm will continue to produce in the short run so long as the price at least covers
65. Match the following:
List-I (Items of BEP)
List-II (Formula)
a. BEP
1. $$\frac{{{\text{FC}}}}{{{\text{P/V Ratio}}}}$$
b. Contribution
2. Sales × P/V Ratio
c. Margin of safety
3. $$\frac{{{\text{Profit}}}}{{{\text{P/V Ratio}}}}$$
d. Calculation of changes in BEP if non-variable costs are increased/decreased
4. $$\frac{{{\text{Change in Non-variable Costs}}}}{{{\text{P/V Ratio}}}}$$
| List-I (Items of BEP) | List-II (Formula) |
| a. BEP | 1. $$\frac{{{\text{FC}}}}{{{\text{P/V Ratio}}}}$$ |
| b. Contribution | 2. Sales × P/V Ratio |
| c. Margin of safety | 3. $$\frac{{{\text{Profit}}}}{{{\text{P/V Ratio}}}}$$ |
| d. Calculation of changes in BEP if non-variable costs are increased/decreased | 4. $$\frac{{{\text{Change in Non-variable Costs}}}}{{{\text{P/V Ratio}}}}$$ |
66. "We are much better off when drawing purely imaginary indifference curves than we are when speaking of purely imaginary utility functions". This is remarked by
67. Increasing unemployment and inflation is a situation of`
68. In finding equilibrium position of a profit maximising firm, which technique is most convenient?
69. The Law of Diminishing Returns depends on the assumption that
70. The cost assigned to factors of production that the firm neither hires nor purchases is called
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