Microeconomics 2 solved MCQs
1 of 8
1. Of ‘real wages’ and ‘money wages’
2. The concept of Quasi-rent mean
3. The return to a factor of production which is fixed in supply in the shortperiod is called
4. The marginal productivity theory of distribution was firstly formulated inits complete form by
5. The ‘iron law of wages’ is
6. According to Prof Knight, profit is the reward for
7. The uncertainty-bearing theory of profit was propounded by
8. Which of the following is not included in the assumptions of Clark’smarginal productivity of distribution
9. Marginal productivity theory is also called
10. Subsistence theory of wages was used by
11. Profit is also known as
12. Changes in the rate of interest affect the amount of money held for
13. The marginal productivity theory of distribution is associated with
14. Who has contributed the modem theory of interest rate determination?
15. Whose name is associated with the “Uncertainty-bearing theory of profit”?
16. Who has sought to measure Consumer’s Surplus with the help of indifference curve technique?
17. Which among the following is NOT an assumption of Pareto optimality?
18. When a firm’s average revenue is equal to its average cost, it gets ________.
19. Given the price, if the cost of production increases because of higher priceof raw materials, the supply
20. Under __________________, price is determined by the interaction of totaldemand and total supply in the market.
21. Standard of living of workers depends upon their
22. Under Marginal productivity Theory, reward for labour is determined by
23. The economist Ricardo argued that prices were _____ because land rents were _______
24. As for the cost of production of an individual farmer, the rent paid by him
25. He presented a theory of rent
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