11.
If the price of 'X' rises by 10 percent and the quantity demanded falls by 10 percent, 'X' has

12.
Demand for intermediate consumption arises in

13.
The second glass of lemonade gives lesser satisfaction to a thirsty biy, this is a clear case of

14.
The kinked demand curve model of oligopoly assumes that

15.
Agricultural goods market depicts characteristics close to

16.
A firm's average total cost of production is Rs.300 at 5 units of output and Rs.320 at 6 units of output. The marginal cost of producing the 6th unit is

17.
The various combination of goods that can be produced in any economy when it uses its available resources and technology efficiency are depicted by

18.
Rational decision making requires that

19.
If the demand for a good is inelastic, an increase in the price of the good will cause the total expenditure of the consumers of the good to

20.
All of the following are determinants of demand except