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Q. In general, a flatter demand curve is more likely to be:

Q. A firm may decide to increase its scale so that it has excess production capacity because, by doing so, it is able to

Q. Law of variable proportion is valid when:

Q. Which of the following shifts the demand for watches to the right?

Q. If the cross-price elasticity between two goods is negative, the two goods are likely to be:

Q. Which of the following legal restrictions, if enforced effectively, would be likely to solve a prisoners’ dilemma type of problem for the firms involved?

Q. Which one of the following conditions is required for the success of a tit-for-tat strategy?

Q. Which situation is consistent with the law of diminishing marginal utility?

Q. In game theory, the outcome or consequence of a strategy is referred to as the

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: