Economics - Study Mode
[#1076] Who has stated that "profit is legalized robbery"?
Correct Answer
(C) Karl Marx
[#1077] Ordinal utility analysis of the consumer's behaviour is considered superior to the cardinal utility analysis mainly due to
Correct Answer
(C) bifurcation of price effects into income and substitution effects
[#1078] Which of the following does not influence the individual demand for a product?
Correct Answer
(C) State of production technology
[#1079] Which element can be included in the total interest?
Correct Answer
(C) Both above
[#1080] Match List-I with List-II and select the correct answer- List-I List-II a. MRS xy = Zero 1. Right-angled b. MRS xy = Constant but non-zero 2. Straight line with negative slope c. Decreasing MRS xy 3. IC is concave to the origin d. Increasing MRS xy 4. IC is convex to the origin
Correct Answer
(A) a-1, b-2, c-4, d-3