869. What is the increase in total cost due to production of the last unit of production called?
870. Statement I The objective of finance function is wealth maximisation.
Statement II The objective of finance function is profit maximisation.
Statement II The objective of finance function is profit maximisation.
871. Match the following.
| List-I (Concepts) | List-II (Features) |
| a. Utility | 1. MU tends to decline as consumption of the commodity increases |
| b. Total utility | 2. It is a want satisfying power of a good |
| c. Marginal utility | 3. Sum total of utility derived from the consumption of all the units of a commodity |
| d. Law of diminishing marginal utility | 4. Additional utility an account of the consumption of an additional unit of a commodity |
873. Match the following.
| List-I | List-II |
| a. Consumer surplus | 1. Loniet |
| b. Concept of compensating variation | 2. Newman Morgensterm |
| c. Utility index number | 3. Hick |
| d. Input-output model | 4. Marshall |
874. Consider the following statements.
1. Monopolistic competition is characterised by full control over price.
2. In monopoly, the product may or may not be homogeneous.
3. Perfect mobility of the factors is the characteristic of oligoploy.
Which of the statement(s) given above is/are correct?
1. Monopolistic competition is characterised by full control over price.
2. In monopoly, the product may or may not be homogeneous.
3. Perfect mobility of the factors is the characteristic of oligoploy.
Which of the statement(s) given above is/are correct?
875. A firm producing a large number of products will follow the pricing strategy known as
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