71. Which one of the following statement is not correct?
72. In case of giffens goods, price effect is
73. Disposable income equals
74. Which is the best definition of the marginal firm?
75. Match the following:
List-I (Information for Pricing Decisions)
List-II (Examples)
a. Product Information
1. Product Information
b. Market Information
2. Value of Brand
c. Information at the micro level
3. Used Production Capacity
d. Quality
4. ISO
| List-I (Information for Pricing Decisions) | List-II (Examples) |
| a. Product Information | 1. Product Information |
| b. Market Information | 2. Value of Brand |
| c. Information at the micro level | 3. Used Production Capacity |
| d. Quality | 4. ISO |
76. Match the following:
a. Responsiveness of demand to change in price
1. Income elasticity of demand
b. Responsiveness of demand to change in tastes
2. Price elasticity of demand
c. Responsiveness of demand to change in income
3. Cross elasticity of demand
d. Responsiveness of demand to change in price of related goods
4. Taste elasticity of demand
| a. Responsiveness of demand to change in price | 1. Income elasticity of demand |
| b. Responsiveness of demand to change in tastes | 2. Price elasticity of demand |
| c. Responsiveness of demand to change in income | 3. Cross elasticity of demand |
| d. Responsiveness of demand to change in price of related goods | 4. Taste elasticity of demand |
77. Match the items of List-I with the items of List-II and select the answer of correct matching.
List-I
List-II
a. Sales Revenue Maximisation
1. Williamson's Model
b. Maximisation of a firm's growth rate
2. Cyert-March Hypothesis
c. Maximisation of Managerial Utility function
3. Baumol's Theory
d. Satisficing behaviour model
4. Marri's Theory
| List-I | List-II |
| a. Sales Revenue Maximisation | 1. Williamson's Model |
| b. Maximisation of a firm's growth rate | 2. Cyert-March Hypothesis |
| c. Maximisation of Managerial Utility function | 3. Baumol's Theory |
| d. Satisficing behaviour model | 4. Marri's Theory |
78. The short-run costfunction of a firm is as under: TC = 200 + 5Q + 2Q2 What will be the level of output at which AC and MC will be equal?
79. Consider the following statements regarding the measurement of rate of inflation.
Statement I The rate of inflation is measured on the basis of price indices which are of two kinds-Wholesale Price Index (WPI) and Consumer Price Index (CPl).
Statement II A price index is a measure of the average level of prices.
Statement III Price index shows the exact price rise or fall of a single good.
Statement I The rate of inflation is measured on the basis of price indices which are of two kinds-Wholesale Price Index (WPI) and Consumer Price Index (CPl).
Statement II A price index is a measure of the average level of prices.
Statement III Price index shows the exact price rise or fall of a single good.
80. "The opportunity cost of using any factor is what is currently forgone by using it." This definition of opportunity cost is given by
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