McqMate
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 |
26. |
The ratio of capital to labour is called |
A. | average product of labour |
B. | average product of capital |
C. | factor intensity |
D. | none of these |
Answer» C. factor intensity |
27. |
For profit maxmisation we must have |
A. | mr = mc |
B. | mc curve cut mr curve from below |
C. | both a and b |
D. | none of these |
Answer» C. both a and b |
28. |
For a function y = f(x1,x2), the total differential is given by |
A. | dy = f1dx1 + f2dx2 |
B. | dy = f1dx2 + f2dx1 |
C. | both a and b |
D. | none of these |
Answer» A. dy = f1dx1 + f2dx2 |
29. |
The nature of tax multiplier is |
A. | positive |
B. | zero |
C. | negative |
D. | none |
Answer» B. zero |
30. |
The inflexion points of the function y = x3 – 3x2 + 5 is at |
A. | 3 |
B. | 6 |
C. | 1 |
D. | 0 |
Answer» C. 1 |
31. |
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 |
32. |
The output of a firm, with given prices of factors of production is decided so that the total cost is |
A. | maximum |
B. | balanced |
C. | minimum |
D. | positive |
Answer» D. positive |
33. |
The minimal value of the function y = x4 – 4x3 + 16x is at |
A. | -1 |
B. | 2 |
C. | -2 |
D. | 1 |
Answer» B. 2 |
34. |
For two goods 1 and 2, if E12 > 0 implies that the two goods are |
A. | complementary |
B. | substitutes |
C. | supplementary |
D. | giffen goods |
Answer» A. complementary |
35. |
If fxxfyy < (fxy)2 when fxx and fyy are of the same sign, then the function is at |
A. | minimum point |
B. | maximum point |
C. | inflexion point |
D. | saddle point |
Answer» B. maximum point |
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