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111.

If substitution ratio is equal to price ratio than cost will be:

A.	Minimum	B.	Increasing
C.	Maximum	D.	Decreasing

112.

If substitution ration is less than price ratio than cost will be:

A.	Increasing	B.	Maximum
C.	Decreasing	D.	None of the above

113.

If technical progress leads to a rise in labour productivity of 5%, then an increase of 5% in the wage rate would imply that:

A.	Workers will derive all of the benefits	B.	There will be cost-push will remain unchanged
C.	Unit labour costs will remain unchanged	D.	Profit per unit will invariably fall

114.

If the income elasticity of demand is greater than one, the commodity is:

A.	A necessity	B.	A luxury
C.	An inferior good	D.	A essentiality

115.

If the members have not any right on land and connot take decisions regarding farming but guided by a general body and profit is given according to the labour and capital invested by the member is known as:

A.	Co-operative joint farming	B.	Co-operative collective farming
C.	Co-operative better farming	D.	Co-operative tenant farming

116.

If the price of a commodity is decreased than the demand will:

A.	Increase if other factors remain same	B.	Minimum if other factors remain same
C.	Maximum if other factors remain same	D.	No effect if other factors remain same

117.

If the production function is homogenous of degree one then the scale elasticity of output will be:

A.	Equal of unity	B.	Less than unity
C.	Greater than unity	D.	Equal to zero

118.

If the quanitity of a commodity demanded does not change when its price, the demand curve is:

A.	Negatively sloped	B.	Positively sloped
C.	Vertically sloped	D.	None of these

119.

If the quantity of commodity demand remains unchanged as its price changes, the coefficient of price elasticity of demand is:

A.	Greater than one	B.	Zero
C.	Smaller than one	D.	Equal to one

120.

If the small holders form a society for farming and get profit after deducting the expenses of his price of land and farmer also have right on his land the system is known as:

A.	Co-operative better farming	B.	Co-operative collective farming
C.	Co-operative joint farming	D.	None of these