41. If one perfectly competitive firm increases its level of output, market supply
42. An increase in the price of tea from Rs. 40 per pound to Rs. 50 per pound increase the demand for coffee from 500 pounds to 600 pounds. The cross elasticity of demand is
43. Which of the following is an implicit cost of production?
44. Average cost curve falls:
45. Which one of the following equations is correct?
Where MRP = Marginal Revenue Product
MPP = Marginal Physical Product
MR = Marginal Revenue
Where MRP = Marginal Revenue Product
MPP = Marginal Physical Product
MR = Marginal Revenue
46. The consumer is 10 equilibrium when he plans his expenditure on x, y, and z commodities in such a way that he ultimately attains
47. Which one of the following is not the characteristic of capitalism?
48. Production function is based on which combination of the main characteristics of the inputs from the following.
1. Substitutability
2. Complementarity
3. Flexibility
4. Specificity
Choose the correct answer
1. Substitutability
2. Complementarity
3. Flexibility
4. Specificity
Choose the correct answer
49. Equilibrium with excess capacity arises in
50. The major factors affecting demand
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