List-I List-II (a) Economies of scale (i) arise with lower average costs of manufacturing a product when two complementary products are produced by a single-firm (b) Internal economies (ii) Mean lowering of costs of production by producing in bulk (c) External economies (iii) Arise when cost per unit depends on size of the firm (d) […]

(a) Marginal rate of technical substitution of labour for capital is equal to the slope of the iso-quant (b) Marginal rate of technical substitution of labour for capital is equal to change in the units of capital divided by the change in the units of labour. (c) Marginal rate of technical substitution of labour for […]

Statement (I): Pricing at par with the market price of the existing brands is considered to be the most reasonable pricing strategy for a product which is being sold in a strongly competitive market. Statement (II): Pricing below the market price has been found to be more successful when a seller intends to achieve a […]

List-I List-II (a)Technological advantages (i)Managerial economies (b) Large scale purchase of material inputs (ii)Economies in transport and storage (c)Specialised departments under specialised personnel (iii)Economies in marketing (d) Oil companies having their own fleet of tankers (iv) Economies in production