Shopping goods have which of the following features?
(a) These products are generally durable in nature
(b) Consumers generally compare the goods of various sellers and then buy such goods
(c) Per unit price of these goods is generally high
(d) These goods are regularly and continuously in demand
(e) These goods are sold as a result of aggressive promotional efforts.
Choose the right answer from the options given below:
Find the marginal revenue of a firm that sells a product at a price of Rs 10 and the price elasticity of demand for the product is (-) 2.
Match the items of List I with the items of List-II and choose the correct answer from the code given below.
Choose one of the following:-
Cardinal utility analysis of consumer’s behaviour is based on which combination of the following assumptions:
i) The utility is measurable in terms of cardinal numbers
ii) The constancy of the marginal utility of money
iii) Utilities of different goods are interdependent
iv) Gossen’s first law of consumption
Choose the correct answer from the code given below:
The monopoly involves a social cost mainly due to its emphasis on which one of the following?