Question
Consider the following statements with respect to
‘Local self-government’: 1.   In 1687, Bombay achieved the distinction of being the first Indian city to establish a municipal corporation for local self-government, with Madras following suit in 1726. 2.   Local self-government was given to ministers who reported to new provincial legislatures under the Government of India Act 1919. 3.   Local self-government was made a provincial topic under the Government of India Act, of 1935, which also introduced provincial autonomy. Which of the above statements are correct?Solution
In 1687, the first municipal corporation in India was set up at Madras. The Chennai Municipal Corporation (officially the Corporation of Chennai), formerly known as the Corporation of Madras, is the civic body that governs the city of Chennai (formerly Madras), India.
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"...
 The above curve is a
If the firms under perfect competition have different costs, abnormal profits can be earned in the long run only by
Who introduced the concept of elasticity of demand?
When the economist speaks of an increase in demand, he is usually referring to a ____________________
Pricing decision includes
A movement along a demand curve indicates that a different quantity is being demanded
This movement is due to
Movement along a demand curve as a result of change in price is known asÂ
Under price discrimination, price will be higher in the market where demand is
Shifts in demand curve as shown in the figure below represents
