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Q. A firm encountering economies of scale over some range of output will have a:

Q. A consumer is in equilibrium and is spending income in such a way that the marginal utility of product X is 40 units and Y is 16 units. The unit price of X is Rs.5. The price of Y is:

Q. The law of diminishing returns only applies in cases where:

Q. If all resources used in the production of a product are increased by 20 percent and output increases by 20 percent, then there must be:

Q. Which of the following circumstances in an industry will result in a Nash equilibrium?

Q. Diminishing marginal returns implies:

Q. A firm that is threatened by the potential entry of competitors into a market builds excess production capacity. This is an example of

Q. An inferior good is one for which an increase in income causes a(n)

Q. Which of the following is an example of a game theory strategy?

Q. If the short-run average variable costs of production for a firm are rising, then this indicates that: