Economics - Study Mode

[#651] Total cost is equal to the sum of
Correct Answer

(A) Fixed cost + variable cost

[#652] The show of impact is a hindrance to the development of low-income countries. It affects
Correct Answer

(A) Propensity to consume

[#653] The pricing strategy which adjusts the basic price to accommodate differences in customers, products and locations is called:
Correct Answer

(A) Differentiated pricing

[#654] According to Marshall, the basis of consumer surplus is
Correct Answer

(A) law of diminishing marginal utility
(E) Law of diminishing MU

[#655] Match the following. List-I List-II a. Substitute goods 1. Income effect is positive b. Complementary goods 2. Tea and coffee c. Normal goods 3. Car and petrol d. Inferior goods 4. Income effect is negative
Correct Answer

(A) a-2, b-3, c-1, d-4