Economics - Study Mode
[#696] Match the following. List-I List-II a. Law of increasing returns 1. TP starts declining b. Law of diminishing returns 2. TP is increasing at the decreasing rate c. Law of negative returns 3. MP is increasing
Correct Answer
(A) a-3, b-2, c-1
[#697] Price, Marginal Revenue and Elasticity are related to each other. When e = 1, then:
Correct Answer
(C) MR = 0
[#698] The relationship of the iso-product curve line depends on
Correct Answer
(A) Rate of substitution
[#699] The revealed preference approach can be described by
Correct Answer
(B) rationality, consistency and transitivity
[#700] In which market competition is associated with 'Kinky Demand Curve'?
Correct Answer
(A) Oligopoly