1241. The cross price elasticity of demand for organge juice with respect to the price of apple juice is probably :

A. Negative
B. Near Infinity
C. Zero
D. Positive *

1242. For a few products such as insulin for diabetes , within a range of prices :

A. The demand curve can not be upward sloping
B. The supply curve can be upward sloping *
C. The supply curve could not be upward sloping
D. It is not possible to calculate either demand or supply elasticities

1243. The Slope of the indifference curve at any point reflects :

A. Income level
B. Prices
C. Utility level
D. Marginal rate of substitution *

1244. The situation of single buyer and single seller is called :

A. Monopoly
B. Multi plant monopolise
C. Bilateral Monopoly *
D. Price discrimination

1245. In cournot model each firm makes decisions regarding :

A. Price *
B. Output
C. Cost
D. Advertisement

1246. According to classical theory utility :

A. Can not be expressed in number *
B. Can be expressed in number
C. Can be tanked
D. None of these

1247. The law of diminishing marginal utility will be applicable . IF the good in use is :

A. Interior
B. Superior
C. Same *
D. Giffen

1248. In case of complementary goods ass difference curve can be :

A. Convex
B. Concave
C. Straight line *
D. L-shaped

1249. Which of the following models makes the assumption of constant saving-income ratio ?

A. Kaldor model
B. Leontief model
C. Harrod domar model *
D. John Robinson model

1250. Which of the following was given a central place by Schumpeter in his theory of development ?

A. Capital accumulation
B. Role of the Government
C. Need for balanced growth
D. Role of innovations *