Economics (M.Phil./Ph.D.) 2018 Panjab University Entrance Exam With Answers

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31.

The ‘expansion path’ is the locus of points of producer’s equilibrium resulting when the

A: Price of input X changes
B: Price of input Y changes
C: Money outlay of the entrepreneur is varied
D: Entrepreneur shifts on to a higher isoquant

The answer is: C

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