The first known writer to apply mathematical method to economic problems was ________

(a)

Sir William Petty

(b)

G. Cramer

(c)

Giovanni Ceva

(d)

J.M. Keynes

_______ is an arrangement of same elements of the corresponding matrix into rows and columns by enclosing vertical lines.

(a)

Matrix

(b)

Function

(c)

Determinants

(d)

Cramer's rule

Formula for calculating marginal revenue

(a)

\(MC={d(TC)\over dQ}\)

(b)

Q_d=Q_s

(c)

\(MR={d(TR)\over dQ}\)

(d)

P_s=2Q+1

\(M={1/2-Y_1\over X_2-X_1}\)gives the

(a)

Slope

(b)

Straight line

(c)

Variant

(d)

Constant

To construct the Linear supply function the least number of points needed are_________.

(a)

two

(b)

three

(c)

four

(d)

five