Micro Economics

Indifference curves are

• always parallel

• may be parellel

• may not be parallel

• Both a and b

Revenues equals expenditure in a

Cross elasticity of demand is

• negative for complementry goods

• unitary for inferior goods

• subsitute goods

• all of these

Who is called the Father of Economics

• J M KEYNES

• Ricardo

• Adam Smith

• Malthus

Macro-economic variables include

• national Income

• Individual income

• both a and b

• none of above

What is Monopoly ?How price and output determined under Monopoly ? Explain.