Economics - Study Mode
[#221] In monopolistic competition we expect-
Correct Answer
(C) infinite cross elasticity of demand
[#222] Consider the following statements. 1. Business economics is a special branch of economics applied in business decision-making. 2. The nature of business economics is applied not theoretical. 3. The nature of business economics is based on micro economics. Which of the statement(s) given above is/are correct?
Correct Answer
(D) All of the above
[#223] A collusive oligopoly (with a dominant price leader) will produce a level of output
Correct Answer
(C) Between that which would prevail under perfect competition, and that which a monopolist would choose in the same industry
[#224] Match the following. List-I List-II a. Zero income elasticity 1. Substitute goods b. Unit cross elasticity 2. Complementary goods c. Positive cross elasticity 3. Indifferent goods d. Negative cross elasticity 4. Independent goods
Correct Answer
(C) a-3, b-4, c-1, d-2
[#225] Name the Indian who has received the nobel prize in economics
Correct Answer
(C) Prof. Amartya Sen