MCQ
The demand of which type of goods do not decrease with increase in their price?
- AComforts.
- BConspicuous goods.
- CNecessities.
- ✓Both $(b)$ and $(c).$
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| Column I | Column II |
| A. Long run production function | (i) $TP _n- TP _{ n -1}$ |
| B. Short period | (ii) So long as $MP > AP$ |
| C. Marginal product | (iii) Production capacity remains constant |
| D. Total Product | (iv) Factor ratio does not change with change in the volume of output |