Question : If the demand curve is a racing cycle, D = 80200 - 13P, and the supply curve is S = 6200 + 12P, what is the equilibrium quantity?

Option 1: 2960 units

Option 2: 31220 units

Option 3: 8750 units

Option 4: 41720 units

Question : For an inferior good , demand falls when 

Option 1: Price rises .

Option 2: Income rises.

Option 3: Price fall.

Option 4: Income fall.

Question : When price of a substitute of commodity 'x' falls, the demand for 'x':

Option 1: falls

Option 2: remain unchanged

Option 3: increase at an increasing rate

Option 4: rises

Question : The demand curve facing a perfectly competitive firm:

Option 1: downward sloping 

Option 2: perfectly inelastic 

Option 3: a concave curve 

Option 4: perfectly elastic 

Question : The use of more labour and capital inputs on the given land under cultivation is referred to as

Option 1: extensive cultivation

Option 2: intensive cultivation

Option 3: hybrid cultivation

Option 4: capitalist cultivation