11.
An indifference curve slopes down towards right since more of one commodity and less of another result in

12.
In the context of oligopoly, the kinked demand curve hypothesis is designed to explain

13.
Profit is maximum when

14.
Supply curve will shift when

15.
The Revealed Preference Theory deduces the inverse price-quantity relationship from

16.
Which form of market structure is characterised by interdependence in decision-making as between the different competing firms?

17.
In monopoly and perfect competition, the cost curves are

18.
If price changes by 1% and supply changes by 2%, then supply is

19.
An ISO-product slopes

20.
Which of the following is NOT the assumption of the Marginal Productivity Theory of Distribution?