Under the Marginal cost pricing, the price is determined on the basis of;
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Fixed cost
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Variable cost
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Total cost
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In ______________ approach, Consumers reactions on the new products are found out indirectly with the help of specialized dealers
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Growth curve approach
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Evolutionary approach.
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Opinion polling approach
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EP = ______________ in case of relatively inelastic demand
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0
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Infinite
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1
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The famous book on economics “An Enquiry into the Nature and Cause of Wealth of Nation” was Written by
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Alfred Marshall
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Adam Smith
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J M Keynes
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Whenever marginal cost is more than ______________ average total cost is falling:
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Average total revenue
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Average total cost
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Average profit
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______________ means relationship between demand and its various determinants expressed mathematically
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Demand extension
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Demand contraction
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Demand analysis
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In the above function, the letter T stands for
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Target price
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Total supply
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Total consumption
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Purposes of long term Demand forecasting doesn’t includes;
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Planning of a new unit or expansion of existing unit.
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Planning long term financial requirements.
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Planning of manpower requirements.
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The demand curve of a firm in the case of perfect competition is:
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Parallel to output axis
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Increasing with the output axis
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Decreasing with the output axis
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The properties of indifference curves are:
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Indifference curve slops downwards from left to right
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Convex to the point of origin
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Two indifference curve never cut each other
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