Indian Economy Questions

The study of individual markets of demand and supply in which the 'players', or the decision makers, were also individuals (buyers or sellers, even companies) who were seen as trying to maximize their profits (as producers or sellers) and their personal satisfaction or welfare levels (as consumers) is called?

Which among the following is an example of micro-economic variable?

The demand for a normal good decreases with ________ in the consumer's income.

Increase in the demand for a good will cause the equilibrium price of the good to ________ and the equilibrium quantity to _________.

The consumption schedule relates:

The demand curve facing a perfectly competitive firm is

____________ is the relationship between the variable input and output, keeping all other inputs are held constant.

A manufacturer faces price elasticity of demand of a ­1.25 for its product. If it lowers its price by 6.4%, the increase in quantity sold will be _____.