Description : The following statement is not true of log dose-response curve: A. It is almost linear except at the ends B. It is a rectangular hyperbola C. It facilitates comparison of different agonists D. It can help in discriminating between competitive and noncompetitive antagonists
Last Answer : B. It is a rectangular hyperbola
Description : The degree of the curve is independent of the number of control points in _____ a.Hermite cubic spline curve b.Bezier curve c.B-spline curve d.Hyperbola
Last Answer : c.B-spline curve
Description : The degree of the curve is independent of the number of control points in . a.Hermite cubic spline curve b.Bezier curve c.B-spline curve d.Hyperbola
Description : Which of the following is not a synthetic entity? a.Hyperbola b.Bezier curve c.B-spline curve d.Cubic spline curve
Last Answer : a.Hyperbola
Description : Which of the following represents the plot of filtrate volume versus time for constant pressure filtration? (A) Parabola (B) Straight line (C) Hyperbola (D) Exponential curve
Last Answer : (A) Parabola
Description : Graph of p against 1⁄V is A. curve B. straight line C. parabola D. hyperbola
Last Answer : straight line
Description : A heavy string attached at two ends at same horizontal level and when central dip is very small approaches the following curve (A) Catenary (B) Parabola (C) Hyperbola (D) Elliptical
Last Answer : (B) Parabola
Description : Isotherm on an enthalpy-concentration diagram, for an ideal solution will be a (A) Straight line (B) Sine curve (C) Parabola (D) Hyperbola
Last Answer : (A) Straight line
Description : An ideal horizontal transition curve is a (a) Parabola (b) Circle (c) Clothoid spiral (d) Hyperbola
Last Answer : (c) Clothoid spiral
Description : A demand curve will not shift: (1) When only income changes (2) When only prices of substitute products change (3) When there is a change in advertisement expenditure (4) When only price of the commodity changes
Last Answer : (4) When only price of the commodity changes Explanation: In economics, the demand curve is the graph depicting the relationship between the price of a certain commodity and the amount of it that ... only when there is a change in other determinants of demand, other than price of the commodity.
Description : Whch of the following curve describes the variation of household expenditure on a particular good with respect to household income? (1) Demand curve (2) Engel curve (3) Great Cats by curve (4) Cost curve
Last Answer : (2) Engel curve Explanation: In microeconomics, an Engel curve describes how household expenditure on a particular good or service varies with household income. The curve is named after ... was the first to investigate this relationship between goods expenditure and income systematically in 1857.
Description : Movement along the same demand curve is know as - (1) Extension and Contraction of Demand (2) Increase and Decrease of Demand (3) Contraction of supply (4) Increase of supply
Last Answer : (2) Increase and Decrease of Demand Explanation: A shift in the demand curve is caused by a factor affecting demand other than a change in price. If any of these factors change then the amount ... of a change in supply conditions. The factors affecting demand are assumed to be held const ant.
Description : Name the curve which shows the quantity of products a seller wishes to sell at a given price level. (1) Demand curve (2) Cost curve (3) Supply curve (4) None of these
Last Answer : (3) Supply curve Explanation: The supply curve shows the relationship between the price of a good and the quantity supplied, holding constant the values of all other variables that affect supply. Each point on the curve shows the quantity that sellers would choose to sell at a specific price.
Description : Which of the following occurs when labour productivity rises? (1) The equilibrium nominal wage falls. (2) The equilibrium quantity of labour falls. (3) Competitive firms will be induced to use more capital (4) The labour demand curve shifts to the right
Last Answer : (4) The labour demand curve shifts to the right Explanation: As labour productivity increases, the production function shifts up and simultaneously the labor demand curve shifts out and right. At ... , the production function shifts up and simultaneously the labor demand curve shifts out and right.
Description : Inwhich market structure is the demand curve of the market represented by the demand curve of the firm? (1) Monopoly (2) Oligopoly (3) Duopoly (4) Perfect Competition
Last Answer : (1) Monopoly Explanation: Because the monopolist is the market's only supplier, the demand curve the monopolist faces is the market demand curve. The market demand curve is downward sloping, ... expect to receive for its output will not remain constant as the monopolist increases its output.
Description : A unit price elastic demand curve will touch - (1) both price and quantity axis (2) neither price axis, nor quantity axis (3) only price axis (4) only quantity axis
Last Answer : (2) neither price axis, nor quantity axis Explanation: Unit elastic refers to an elasticity alternative in which any percentage change in price cause an equal percentage change in quantity. In other ... However, the unit price elastic demand curve does not touch either price axis or quantity axis.
Description : An exceptional demand curve is one that moves - (1) upward to the right (2) downward to the right (3) horizontally (4) vertically
Last Answer : (2) downward to the right Explanation: A demand curve that violates the law of demand is termed an exceptional demand curve. If a household expects the price of a commodity to increase, it may ... backward slope from the top right to down left. This curve is known as an exceptional demand curve.
Description : A horizontal demand curve is - (1) relatively elastic (2) perfectly inelastic (3) perfectly elastic (4) of unitary elasticity
Last Answer : (3) perfectly elastic Explanation: The demand curve facing a perfectly competitive firm is flat or horizontal. This is because all firms in perfect competition are by definition selling an identical (homogeneous) ... of the curve is zero, it is impossible for the price to change in the market.
Description : Demand curve of a firm under perfect competition is : (1) horizontal to ox-axis (2) negatively sloped (3) positively sloped (4) U - shaped
Last Answer : (1) horizontal to ox-axis Explanation: Under Perfect Competition, the firm faces a horizontal demand curve. It can sell any quantity desired at the market price, but cannot sell anything above the market price.
Description : When there is a change in demand leading to a shift of the Demand Curve to the right, at the same price as before, the quantity demanded will - (1) decrease (2) increase (3) remain the same (4) contract
Last Answer : (2) increase Explanation: In economics, the demand curve is the graph depicting the relationship between the price of a certain commodity and the amount of it that consumers are willing and able to ... is movement along a demand curve when a change in price causes the quantity demanded to change.
Description : The demand curve facing a perfectly competitive firm is - (1) downward sloping (2) perfectly inelastic (3) a concave curve (4) perfectly elastic
Last Answer : (4) perfectly elastic Explanation: A perfectly competitive industry is comprised of a. large number of relatively small firms that sell identical products. Each perfectly competitive firm is so small ... at the going market price. This translates into a horizontal or perfectly elastic demand curve.
Description : A demand curve, which is parallel to the horizontal axis, showing quantity, has the price elasticity equal to - (1) Zero (2) One (3) Less than one (4) Infinity
Last Answer : (4) Infinity Explanation: Price elasticity of demand measures consumer response to price changes. If consumers are relatively sensitive to price changes, demand is elastic: if they are relatively ... keeps changing with the price. So the coefficient of price elasticity of demand is infinity.
Description : Kinked demand curve is a feature of - (1) Monopoly (2) Oligopoly (3) Monopsony (4) Duopoly
Last Answer : (2) Oligopoly Explanation: The kinked demand curve theory is an economic theory regarding oligopoly and monopolistic competition. Kinked demand was an initial attempt to explain sticky prices.
Description : The demand curve shows that price and quantity demanded are - (1) directly related only (2) directly proportional and also directly related (3) inversely proportional and aslo inversely related (4) inversely related only
Last Answer : (3) inversely proportional and aslo inversely related Explanation: Law of demand states that consumers buy more of a good when its price is lower and less when its price is higher. It states that ... good demanded by the consumer will be negatively correlated to the change in the price of the good.
Description : The demand curve for a Giffen good is (1) upward rising (2) downward falling (3) parallel to the quantity axis (4) parallel to the price axis
Last Answer : (1) upward rising Explanation: A Giffen good is a good whose consumption in-creases as its price increases. (For a normal good, as the price increases, consumption decreases.) Thus, the ... a price changes the income effect outweighs the substitution effect and this leads to perverse demand curve.
Description : The bowed shape of the production possibilities curve illustrates: a. the law of increasing marginal cost b. that production is inefficient c. that production is unattainable d. the demand is relatively inelastic
Last Answer : a. the law of increasing marginal cost
Description : The kinked demand curve explains A.Price rigidity B.Price flexibility C.Demand rigidity D.Demand flexibility
Last Answer : A.Price rigidity
Description : The upper portion of the kinked demand curve is relatively A.More inelastic B.More elastic C.Less elastic D.Inelastic
Last Answer : B.More elastic
Description : Demand curve is related to A.MU curve B.Marginal revenue C.Both (a) and (b)
Last Answer : C.Both (a) and (b)
Description : If the demand curve confronting an individual firm is perfectly elastic, then firm is A.Price taker B.Adjust output C.Adjust price D.All of these Answer Repor
Last Answer : A.Price taker
Description : Shifts in demand curve include A.Increase in Demand (Upward shift) B.Extention in demand C.Contraction in demand D.None of the above
Last Answer : A.Increase in Demand (Upward shift)
Description : Put into chronological order on the basis of development: l. Law of demand 2. Law of indifference 3. Law of diminishing marginal utility 4. Revealed preference curve 5. Indifference curve A.1 3 4 2 5 B.1 5 3 4 2 C.1 3 2 5 4 D.1 2 3 4 5
Last Answer : C.1 3 2 5 4
Description : Demand curve can be derived from the law of diminishlng marginal utility on which of the following assumptions? (i) Utility can be measured in quantitative terms (ii) Utility of money is constant Of these statements: A.Only ... ) and (ii) are true C.Only (ii) is true D.Neither (i) nor (ii) is true
Last Answer : B.Both (i) and (ii) are true
Description : If total revenue rises when price falls, the demand curve is (a) Elastic (b) Unitary elastic (c) Inelastic (d) None of the above
Last Answer : (a) Elastic
Description : When cost of production is zero, monopoly equilibrium will be established at a level where elasticity of demand curve is : (a) Greater than one (b) Equal to one (c) Less than one (d) Infinity
Last Answer : Equal to one
Description : A price consumption curve, traces the utility maximizing combination of two goods when (a) the price of one good changes (b) the consumer’s preference change © the consumer’s income changes (d) the demand curve for one of the goods shifts rightward
Last Answer : (a) the price of one good changes
Description : An increase in product price will cause (a) quantity demanded to decrease (b) quantity supplied to decrease © quantity demanded to increase (d) the demand curve to shift to the left
Last Answer : (a) quantity demanded to decrease
Description : The law of diminishing marginal utility is most useful for explaining the (a) Law of supply (b) Law of demand © Shape of production possibility curve (d) curvature of total cost curve
Last Answer : (b) Law of demand
Description : Demand curve remaining the same, if the supply curve shifts to the right then (a) Price and quantity move in the same direction (b) Price and quantity move in the opposite direction © Price and quantity remain unchanged (d) None of the above.
Last Answer : (b) Price and quantity move in the opposite direction
Description : In case of horizontal demand curve , price elasticity of demand is (a) equal to zero (b) equal to one © equal to two (d) infinite
Last Answer : (a) equal to zero
Description : Demand curve shifts downwards when (a) at the same price level demand falls (b) price increases and demand falls © price falls and demand also falls (d) at the same price level demand increases
Last Answer : © price falls and demand also falls
Description : Which of the following curve describes the variation of household expenditure on a particular good with respect to household income ? (1) Demand curve (2) Engel curve (3) Great Gatsby curve (4) Cost curve
Last Answer : Engel curve
Description : The demand curve facing a perfectly competitive firm is (1) downward sloping (2) perfectly inelastic (3) a concave curve (4) perfectly elastic
Last Answer : perfectly elastic
Description : A demand curve, which is parallel to the horizontal axis, showing quantity, has the price elasticity equal to (1) Zero (2) One (3) Less than one (4) Infinity
Last Answer : Infinity
Last Answer : When only price of the commodity changes
Description : Which of the following occurs when labour productivity rises ? (1) The equilibrium nominal wage falls. (2) The equilibrium quantity of labour falls. (3) Competitive firms will be induced to use more capital (4) The labour demand curve shifts to the right
Last Answer : The labour demand curve shifts to the right
Description : A unit price elastic demand curve will touch (1) both price and quantity axis (2) neither price axis, nor quantity axis (3) only price axis (4) only quantity axis
Last Answer : neither price axis, nor quantity axis
Description : Kinked demand curve is a feature of (1) Monopoly (2) Oligopoly (3) Monopsony (4) Duopoly
Last Answer : Oligopoly