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Q. When a firm doubles its inputs and finds that its output has more than doubled, this is known as:

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

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. Variable costs are:

Q. ______ shows the overall output generated at a given level of input:

Q. A significant property of Cobb Douglas production function is that the elasticity of substitution between inputs is

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. If you know that with 8 units of output, average fixed cost is Rs.12.50 and average variable cost is Rs.81.25, then total cost at this output level is:

Q. If the income elasticity of demand for a good is negative, it must be:

Q. A game that involves interrelated decisions that are made over time is a