Indian Economy Questions

In economic equilibrium _____

The change in the optimal quantity of a good when its price changes and the consumer’s income is adjusted so that she can just buy the bundle that she was buying before the price change is called?

If a person's income increases from Rs 20 lakhs per year to Rs 24 lakhs per year and tax increases from Rs 3,50,000 to Rs 4,00,000 the marginal tax rate is

The determinants of aggregate supply -

Which is the form of market where there is lack of competition?

Long run growth in GDP is determined by

Short run marginal cost curve cuts the short run average cost curve from _______ at the minimum point of short run average cost.

A hand made paper workshop can hire 8 craftsmen by paying them Rs 400 per person per day. The 9th craftsman demands Rs 450 per day. If this craftsman is hired then all other craftsmen must be paid Rs 450. The marginal resource (labour) cost of the 9th craftsman is