Question
Which exclusive power does the Council of States
possess?Solution
Recommending the creation of a new All India Service Explanation: The Council of States (Rajya Sabha) holds the exclusive power to recommend the creation of new All India Services. This authority is provided under Article 312 of the Indian Constitution and requires a resolution supported by a two-thirds majority of members present and voting.
Concept of 'Consumer's Surplus' was evolved by
The reasons for L-shaped long run average cost curve is/are
Pricing decision includes
When price elasticity of demand is unity, the total expenditure:
A rightward shift in supply curve indicates
Movement along a demand curve as a result of change in price is known as
Market with one buyer and one seller is called
In case of Giffens goods, price effect is
When AR is constant, MR is
Under perfect competition, the long-run equilibrium of the firm is established at
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