# Mathematical Tools for Economics 2 Solved MCQs

1.

A. 50
B. 25
C. 75
D. 100
2.

A. price
B. revenue
C. quantity
D. none of these
3.

## An example of fixed inputs of production is

A. land
B. organisation
C. both a and b
D. none of these
Answer» C. both a and b
4.

A. total cost
B. average cost
C. marginal cost
D. none of these
5.

## Marginal cost of a function c = f(g) is

A. dc/dq
B. f\(q)
C. both a and b
D. none of these
Answer» C. both a and b
6.

## The ratio of total cost to the quantity produced is called

A. average cost
B. marginal cost
C. total variable cost
D. none
7.

A. total cost
B. average cost
C. marginal cost
D. none of these
8.

A. less than 1
B. more than 1
C. equal to 1
D. zero
9.

A. symmetrical
B. asymmetrical
C. both a and b
D. none
10.

## Luxury goods are:

A. price inelastic
B. price elastic
C. both a and b
D. none
11.

A. low
B. moderate
C. high
D. optimum
12.

A. negative
B. perfect
C. positive
D. none
13.

A. positive
B. negative
C. perfect
D. none
14.

## A given percentage change in price results in an equal percentage change in sales, indicates:

A. unitary price elasticity
B. inelastic price elasticity
C. elastic price elasticity
D. none
15.

A. first
B. second
C. third
D. fourth
16.

## A line for linear equation should begin from

A. origin
B. x axis
C. y axis
D. any of the above
Answer» D. any of the above
17.

## Functional relationship between input and output is called

A. isoquants
B. isocost
C. input function
D. production function
18.

A. short run
B. long run
C. medium run
D. none
19.

A. unity
B. zero
C. negative
D. constant
20.

A. trace
B. order
C. degree
D. transpose
21.

## MRTS is the slope of

A. production function
B. priceline
C. isocostline
D. isoquant
22.

A. increasing returns
B. diminishing returns
C. constant returns
D. negative returns
23.

A. mp
B. ap
C. tc
D. mc
24.

A. increasing
B. decreasing
C. constant
D. none of these
25.

## The points at which a curve is neither increasing not decreasing is called

A. turning point
B. stationery points
C. both a and b
D. none of these
Answer» C. both a and b
Tags
Question and answers in Mathematical Tools for Economics 2, Mathematical Tools for Economics 2 multiple choice questions and answers, Mathematical Tools for Economics 2 Important MCQs, Solved MCQs for Mathematical Tools for Economics 2, Mathematical Tools for Economics 2 MCQs with answers PDF download

## Help us improve!

We want to make our service better for you. Please take a moment to fill out our survey.

Take Survey