71. Assertion (A): The demand for a commodity refers to the quantity of the commodity in demand at a certain price during any particular period.
Reason (R): The contraction of demand is the result of an increase in the price of the good concerned.
Reason (R): The contraction of demand is the result of an increase in the price of the good concerned.
72. Lack of capital, exessive dependence on agriculture and inequalities of income and assets are some of the important features of a
73. Which one of the following agencies is responsible for the computation of national income in India
74. The economic cost of input includes
75. Find the marginal revenue of a firm that sells a product at a price of Rs. 10 and the price elasticity of demand for the product is (-) 2.
76. Which of the following refers to perfect competition?
1. There are restrictions on buyers and sellers.
2. There are no restrictions on movement of goods.
3. There are no restrictions on factors of production.
Select the correct answer
1. There are restrictions on buyers and sellers.
2. There are no restrictions on movement of goods.
3. There are no restrictions on factors of production.
Select the correct answer
77. Merger of two companies under the Board for Industrial and Finacial Reconstruction (BIFR) supervision is known as
78. In the case of Giffen good like bajra, a fall in its price tends to-
79. If an increase of 50% in the price of a commodity causes a decrease in its demand by only 10% then such demand will be
80. Statement I The important difference between our assumptions for monopolistic competition and those for perfect competition is that monopolistic competitors sell similar, but not identical products.
Statement II In monopolistic competition, we have many firms selling a differentiated product.
Statement II In monopolistic competition, we have many firms selling a differentiated product.
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