Economics - Study Mode
[#1241] A given economic state is Pareto-optimal if a policy-change can
Correct Answer
(C) not make anyone better off without making someone worse off
[#1242] Welfare oriented definition of economics has been given by
Correct Answer
(A) A. Marshall
[#1243] The monopoly involves as social cost mainly due to its emphasis on which one of the following?
Correct Answer
(B) Lower output at a higher cost in a normal profit situation
[#1244] A point on the slope of the indifference curve is called
Correct Answer
(A) Marginal rate of substitution
[#1245] Match the following. List-I List-II a. Perfect competition 1. Different prices for the same product b. Monopolistic competition 2. Dominant strategy c. Oligopoly 3. Product differentiation d. Discriminating monopoly 4. Identical product
Correct Answer
(A) a-4, b-3, c-2, d-1