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743. Dan Patinkin has proved the law of proportionality with the help of which of the following effect
A. Price effect
B. Income effect
C. Substitution effect
D. Actual balance effect
Discussion
744. What kinds of actions can be taken to put the rivals at a disadvantageous position under oligopoly market?
A. Commitments
B. Threats
C. Promises
D. All the above
Discussion
745. The 'Concept of cross Elasticity of Demand' was given by
A. Moor
B. Marshall
C. Robert Triffin
D. None of these
Discussion
746. The monopoly involves as social cost mainly due to its emphasis on which one of the following?
A. Earning net profit in all possible situations
B. Lower output at a higher cost in a normal profit situation
C. Charging different prices from different categories of buyers of the same product
D. Attempting to stop entry of other firms in the market
Discussion
747. Indifference curve is the combination of two goods that are
A. Complementary goods
B. Substitute goods
C. Not related with each other
D. Related to two different people
Discussion
748. When the income elasticity of demand is greater than unity, the commodity is
A. a necessity
B. a luxury
C. an inferior good
D. a non-related good
Discussion
749. 'Reasoning from the general to the particular' in Economics is called:
A. deductive method
B. inductive method
C. experimental method
D. None of the above
Discussion

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