1. |
If marginal revenue is Rs.25/- and elasticity of demand w.r.t price is 2, then the average revenue is |
A. | 50 |
B. | 25 |
C. | 75 |
D. | 100 |
Answer» A. 50 |
2. |
Cost is a function of |
A. | price |
B. | revenue |
C. | quantity |
D. | none of these |
Answer» C. quantity |
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. |
Total variable cost plus total fixed cost gives |
A. | total cost |
B. | average cost |
C. | marginal cost |
D. | none of these |
Answer» A. total cost |
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 |
Answer» A. average cost |
7. |
Sum of explicit cost and implicit cost gives: |
A. | total cost |
B. | average cost |
C. | marginal cost |
D. | none of these |
Answer» A. total cost |
8. |
For a unitary elastic supply curve, p s is |
A. | less than 1 |
B. | more than 1 |
C. | equal to 1 |
D. | zero |
Answer» C. equal to 1 |
9. |
Cross price elasticity may not always be |
A. | symmetrical |
B. | asymmetrical |
C. | both a and b |
D. | none |
Answer» A. symmetrical |
10. |
Luxury goods are: |
A. | price inelastic |
B. | price elastic |
C. | both a and b |
D. | none |
Answer» B. price elastic |
11. |
If close substitutes are available, then the elasticity of demand will be |
A. | low |
B. | moderate |
C. | high |
D. | optimum |
Answer» C. high |
12. |
The relationship between supply and price is |
A. | negative |
B. | perfect |
C. | positive |
D. | none |
Answer» C. positive |
13. |
The relationship between demand and price is |
A. | positive |
B. | negative |
C. | perfect |
D. | none |
Answer» B. negative |
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 |
Answer» A. unitary price elasticity |
15. |
What is the order of differential equation = 10x + 5 |
A. | first |
B. | second |
C. | third |
D. | fourth |
Answer» A. first |
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 |
Answer» D. production function |
18. |
Law of variable proportion explainsfor |
A. | short run |
B. | long run |
C. | medium run |
D. | none |
Answer» A. short run |
19. |
In CES production function, the elasticity of substitution is |
A. | unity |
B. | zero |
C. | negative |
D. | constant |
Answer» D. constant |
20. |
The highest power to which the derivative of highest order is raised in differential equation is called. |
A. | trace |
B. | order |
C. | degree |
D. | transpose |
Answer» C. degree |
21. |
MRTS is the slope of |
A. | production function |
B. | priceline |
C. | isocostline |
D. | isoquant |
Answer» D. isoquant |
22. |
Second stage in return to scale is called |
A. | increasing returns |
B. | diminishing returns |
C. | constant returns |
D. | negative returns |
Answer» C. constant returns |
23. |
Slope of Total product Curve is called |
A. | mp |
B. | ap |
C. | tc |
D. | mc |
Answer» A. mp |
24. |
For a function y=f(x), x1>x2 f(x)1> f(x2) says that the function is |
A. | increasing |
B. | decreasing |
C. | constant |
D. | none of these |
Answer» A. increasing |
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 |
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