Question
In the sentences, there is an error. Pick the option
containing error as the answer. P. We lived in very small groups, about 50 people, groups that never really got larger than 150. Q. They can cheat on the group with impunity. R. So when you start having anonymous strangers in groups, what that means is that people can free ride on the group. S. Azim Shariff, a psychology professor and author, says, “For the vast history of our species, we didn't live in large groups. T. And the reason for that is because from a genetic standpoint, we’re only built to be able to cooperate with so many people as we can know well. Given below are 5 sentences which are arranged in any random order. Arrange the sentences and answer the question given below.Solution
Here, ‘so many people as we can…’ is incorrect. ‘so’ should be changed to ‘as’. And the reason for that is because from a genetic standpoint, we’re only built to be able to cooperate with as many people as we can know well.
If the firms under perfect competition have different costs, abnormal profits can be earned in the long run only by
In case of Giffens goods, price effect is
From the resource allocation point of view, perfect competition is preferable becauseÂ
Shifts in demand curve as shown in the figure below represents
A movement along a demand curve indicates that a different quantity is being demanded
This movement is due to
When the economist speaks of an increase in demand, he is usually referring to a ____________________
Elasticity of demand measures the
Pricing decision includes
Which one of the following is not the function of a managerial economist?
Elasticity of demand is based on which of the following factors?