Related InterviewSolutions

• Explain the two basic elements of an index number.
• Identify the market forms of the two sellers of goods A and B, given the following information. Give reasons for your answer: `{:("Output Sold","Price of X","Price of Y"),(" (Units)"," (Rs)"," (Rs)"),(" "10," "5," "5),(" "20," "5," "4),(" "30," "5," "3"):}`
• Explain the implications of the follwing in oligopoly market: (a) Barriers to entry of new firms (b) A few or a few big sellers
• Explain the implications of the following in an oligopoly market: (i) Interdependence between firms (ii) Barriers to the entry of new firms
• If MRS is lower than the ratio of the prices of the two goods the consumer consumes. Explain the reaction of the consumer to this situation.
• A consumer consumes only two goods. If price of one of the good falls, the Indifference Curve :A. Shifts upwardsB. Shifts downwardsC. Can shift both upwards and downwardsD. Does not shift
• There is inverse realtion between price and demand for the product of a under :A. Monopoly onlyB. Monopolistic competition onlyC. Both under monopoly and monopolistic competitionD. Perfect competition only
• A consumer consumes only two goods X and Y. Let P = price and m = income. Which of the following equation is budget constraint equation? (Choose the correct alternative)A. `P_(x) .X+P_(y) .Y =m`B. `P_(x) .X+P_(y) .Y gem`C. `P_(x) .X+P_(y) .Y lem`D. None of the above
• Suppose total revenue is rising at a constant rate as more and more units of a commodity are sold,marginal revenue would be :A. Greater than average revenueB. Equal to average revenueC. Less than average revenueD. Rising
• Marginal revenue of a firm is constant throughout under :A. Perfect competitionB. Monopolistic competitionC. OligopolyD. All of these