Question
Select the set in which the numbers are related in the
same way as are the numbers of the following sets. (NOTE: Operations should be performed on the whole numbers, without breaking down the numbers into its constituent digits. E.g. 13 – Operations on 13 such as adding /subtracting /multiplying etc. to 13 can be performed. Breaking down 13 into 1 and 3 and then performing mathematical operations on 1 and 3 is not allowed) (75, 55, 70) (65, 55, 68)Solution
The correct answer is B
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?
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