1142. Suppose a consumer buys only two goods A and B. When commodity A becomes cheaper with increase in consumer's income, it is seen that consumption of A has decreased and that of B has increased. This is because
1143. If we assume that price decreases and total expenditures increase we may conclude that elasticity of demand is
1145. Which of the following curve shows the firm's lowest cost per unit at each level of output?
1147. Consider the following statements.
1. Point of inflexion exists where Ist stage of law of variable proportions ends.
2. TP increases even when MP is decreasing.
3. Producer will stop only at IInd stage of variable proportions.
Which of the statement(s) given above is/are correct?
1. Point of inflexion exists where Ist stage of law of variable proportions ends.
2. TP increases even when MP is decreasing.
3. Producer will stop only at IInd stage of variable proportions.
Which of the statement(s) given above is/are correct?
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