A factor which has less substitutes will have
Moderately high elasticity of demand
Very high elasticity of demand
Low elasticity of demand
Elasticity of demand
Marginal revenue product curve is
An excess demand curve
A supply curve for a factor
A demand curve for a factor
Decrease demand curve
Quasi rent is
Permanent in nature
Temporary in nature
Temporary for some time and then permanent
None of these
If supply of a factor is perfectly inelastic the entire earning of the factor is
Quasi Rent
Transfer earning
Rent
Income
The wage fund theory is developed by
Ragnar Frisch
J.S. Mill
Keynes
Adam smith
The distribution of national income among persons in the society is called
Functional Distribution
Income Distribution
Personal Distribution
Demand distribution
The supply of labour in an economy at very high real wages
Increases
Decreases
Remains Constant
No change
The demand for a factor is
A direct demand
A derived demand
An excess demand
Decreasing demand
The aggregate supply of land area in an economy is
Perfectly elastic
Unity elastic
Perfectly inelastic
Imperfectly elastic
The theory of factor pricing is popularly known as
Theory of Distribution
Theory of Consumption
Theory of Supply
Theory of demand
