91.
Suppose a consumer buys only two goods A and B. When commodity A becomes cheaper with increase in consumer's income, it is seen that consumption of A has decreased and that of B has increased. This is because

93.
If we assume that price decreases and total expenditures increase we may conclude that elasticity of demand is

95.
Goods 'A' and 'B' are substitutes in production either good A or good B, then A and B are

98.
Normally shaped indifference curves are bowed towards the origin of the graph. The reason for this shape is

99.
Match the following.
List-I List-II
a. Monopoly 1. Single buyer, single seller
b. Oligopoly 2. Single seller, many buyers
c. Monopsony 3. Single buyer, many sellers
d. Duopoly 4. Few sellers, many buyers
e. Bilateral monopoly 5. Two sellers, many buyers

100.
Shutdown point referes to the state of loss in short run where a firm need to decide whether to continue with production activity or to suspend it. This point is decided under which condition?
1. AR = AVC
2. AR = MC
3. AR = TVC
4. AR = AC