56. 'Kinked Demand curve approach' is concerned with
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57. What is the nature of Elasticity of demand for luxury items like high-class furniture
58. A consumer consuming two goods will be in equilibrium when the marginal utilities from both goods are
Maximum possible positive
59. All the following curves are U-shaped except
60. Which of the following statement is incorrect
Even monopolistic can earn a loss
Firms in a perfectly competitive market are a price taker
It is always beneficial for a firm in a perfectly competitive market to discriminate price
The kinked demand curve is related to an oligopolistic market
UGC NET PAPER 1
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