Question
Consider the following statements: 1. The La Nina
is the “cool phase” of El Nino-Southern Oscillation (ENSO). 2. The La Nina event happens when ocean surface waters cool along the Pacific coast of the South American tropics. Which of the statements given above is/are correct?Solution
The La Nina is the "cool phase" of the El Nino-Southern Oscillation (ENSO), which is a natural climate pattern that occurs in the Pacific Ocean. La Nina is caused by a build-up of cooler-than-normal waters in the tropical Pacific, the area of the Pacific Ocean between the Tropic of Cancer and the Tropic of Capricorn.Â
 The above curve is a
Which one of the following is not the function of a managerial economist?
A firm maximizes its profit when
Economics of scale means
Information for pricing decision involves
A high value of cross-elasticity indicates that the two commodities are
Diamond-water paradox establishes the fact that
The increasing returns to scale occurs. because larger scale provides greater specialization to various factors" is a statement given by
Concept of 'Consumer's Surplus' was evolved by
Market demand for any good is a function of the
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