MICROECONOMICS CH : 4 CONSUMER'S EQUILIBRIUM INDIFFERENCE CURVE ANALYSIS — Economics STD 11 Commerce — Question

Price elasticity of demand at the mid-point of a straight line downward sloping demand curve is ___________       (unitary/more than unitary)

Study of economy as a whole is called _________ economics. (macro/micro)

_________ is an economic agent who consumes final goods and services to fulfil his basic needs.

____________ is a table which shows the quantity demanded of a commodity at various prices.

Producer's equilibrium is struck at that level of output where the difference between TR and TC is ______________ (maximised/minimised)

If price of commodity is zero, the consumer will consume till Marginal utility becomes ________.

___________ means the lowest price fixed by the government for a product. (Price floor/Price ceiling)

_______ is per unit fixed cost of production of a commodity.

The law of demand does not apply to _________________ goods. (normal/Giffen)

TVC curve is____________ in nature.