Economics - Study Mode
[#391] A change in the supply of a commodity along with same supply curve may occur due to
Correct Answer
(A) Change in the price of the commodity
[#392] With fixed costs of Rs. 400, a firm has average total costs of Rs. 3 and average variable costs of Rs. 2.50. Its output is
Correct Answer
(C) 800 units
[#393] Match the following. List-I List-II a. Increase in demand 1. Leftward shift of the demand curve b. Extension of demand 2. Upward shift of the demand curve c. Decrease in demand 3. Upward movement on the demand curve d. Contraction of demand 4. Downward movement on the demand curve
Correct Answer
(A) a-2, b-4, c-1, d-3
[#394] The following are the steps in designing the market driven distribution: 1. Know what customers want 2. Determine the costs 3. Review assumptions 4. Decide on the outlet 5. Compare alternatives 6. Implement changes Select the right sequence of the steps:
Correct Answer
(A) 1, 4, 2, 5, 3, 6
[#395] Suppose a consumer buys only two goods A and B. When commodity A becomes cheaper with increase in consumer's income, it is seen that consumption of A has decreased and that of B has increased. This is because
Correct Answer
(C) The substitution effect has acquired the predominance of the income effect