Question
Consider the following statements in reference to
Punjab Preservation of Subsoil Water Act, 2009. 1.   As per the Act, no farmer shall sow nursery of paddy before 10th day of May of the agricultural year or such other date as may be notified by the State Government by notification in the Official Gazette for any local area. 2.   Any farmer who contravenes the provisions of this Act shall be liable to a penalty of rupees ten thousand for every month, or part thereof, per hectare of the land till the period such contravention continues. 3.   As per the Act, âState governmentâ means âGovernment of Indiaâ. Which of the statements given above is/are correct?Solution
The correct answer is B
A high value of cross-elasticity indicates that the two commodities are
Movement along a demand curve as a result of change in price is known asÂ
Which one of the following is not the function of a managerial economist?
If the firms under perfect competition have different costs, abnormal profits can be earned in the long run only by
Information for pricing decision involves
Under perfect competition, the long-run equilibrium of the firm is established at
The statement, "The elasticity of demand may be defined as the percentage change in quantity demanded which would result from 1 percent change in price"...
Statement âPrice is the amount of money and/or other item with utility needed to acquire a product" is given byÂ
When price elasticity of demand is unity, the total expenditure:
Concept of 'Consumer's Surplus' was evolved by
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