Iso-cost line indicate the price of

Related MCQs

• If the income and substitution effect of a price increase works in the same direction the good whose price has changed is a
• Selling at a lower price in export market and at a higher price at home market is called
• If the percentage increase in quantity of a commodity demanded is its price, the coefficient of price elasticity of demand is:
• If the quantity of a commodity demanded remains unchanged as its price changes, the coefficient of price elasticity of demand is
• The firm charges price in tune with the industry’s price is called
• Consider a demand curve which takes the form of a straight line cutting both axes. Elasticity at the mid-point of the line would be:
• What effect is working when the price of a good falls and consumers tend to buy it insteadof other goods
• ……….. a schedule that depicts the supply by an individual firm or producer of a commodity in relation to its price
• …………… is the degree of responsiveness of supply to changes in the price of a good
• The change in demand due to change in price only, where other factors remaining constant, it is called……….