Economics - Study Mode
[#1081] Which of the following statement is true in relation to Indian Agriculture?
Correct Answer
(A) Labour productivity is low in agriculture
[#1082] The short-run supply curve of a perfectly competitive firm
Correct Answer
(A) Is equal to that portion of the short-run marginal cost curve that is above the average variable cost curve
[#1083] If the price-consumption curve is horizontal, the price-elasticity of demand for X [the price of which falls] would be
Correct Answer
(B) one
[#1084] Which of the following statements are true according to Prof. Schumpeter about a monopolist? 1. Monopolies are inefficient. 2. Monopoly profits acts as an incentive for innovation. 3. AR is equal to MR. Select the correct answer
Correct Answer
(C) Only 2
[#1085] Find out from the following table by which law the firm is working- Units of input Total production 1 10 2 25 Law of increasing returns 3 50 4 85 5 135 6 135 Origin parity rule 7 130 Law of diminishing returns
Correct Answer
(C) Law of increasing returns