[{"id":181038,"question":"Change in total cost on the production of one additional unit of output is calculated as .","choices":[{"text":"Marginal cost","value":"A"},{"text":"Average cost","value":"B"},{"text":"Total cost","value":"C"},{"text":"Marginal product","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":181037,"question":"When AC curve rises, MC curve remains:","choices":[{"text":"Above AC","value":"A"},{"text":"Below AC","value":"B"},{"text":"Equal AC","value":"C"},{"text":"Negative","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":181036,"question":"Under monopoly:","choices":[{"text":"AR = MR","value":"A"},{"text":"AR > MR","value":"B"},{"text":"AR < MR","value":"C"},{"text":"AR = MR","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":181034,"question":"Long run average cost curve is :","choices":[{"text":"U shaped","value":"A"},{"text":"L shaped","value":"B"},{"text":"Dish shaped","value":"C"},{"text":"None of the three","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":181032,"question":"Lowest point on the average cost curve in the long-run represents;","choices":[{"text":"Optimum factors combination","value":"A"},{"text":"Maximum level of output","value":"B"},{"text":"Maximum level of total revenue","value":"C"},{"text":"None of the three","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":181030,"question":"All factors of productions are variable in the:","choices":[{"text":"Marked period","value":"A"},{"text":"Short period","value":"B"},{"text":"long period","value":"C"},{"text":"None of the three","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":181028,"question":"Which on of the following represents fixed cost:","choices":[{"text":"Price of raw material","value":"A"},{"text":"Wages","value":"B"},{"text":"Interests on loan","value":"C"},{"text":"Rent of land","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":181026,"question":"Average cost and marginal cost curves in the short-run are:","choices":[{"text":"Quadratic function","value":"A"},{"text":"Linear function","value":"B"},{"text":"Cubic function","value":"C"},{"text":"Log function","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":181015,"question":"Total cost curve in general is a.","choices":[{"text":"Linear function","value":"A"},{"text":"Quadratic function","value":"B"},{"text":"Cubic function","value":"C"},{"text":"Long function","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":181014,"question":"As output increase, one of the following costs will also increase:","choices":[{"text":"Marginal cost","value":"A"},{"text":"Average cost","value":"B"},{"text":"Variable cost","value":"C"},{"text":"Fixed cost","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":181011,"question":"A monopoly market can be controlled by.","choices":[{"text":"Fixing of the price by the government","value":"A"},{"text":"Administrative measures","value":"B"},{"text":"Introduction of substitutes","value":"C"},{"text":"Nationalisation","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":181009,"question":"Extent of market mainly depends upon.","choices":[{"text":"Availability of means of transport and communication","value":"A"},{"text":"Nature of supply","value":"B"},{"text":"Government restriction","value":"C"},{"text":"Perishable goods","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":181007,"question":"Different kinds of imperfect competition are.","choices":[{"text":"Monopoly","value":"A"},{"text":"Monopolistic competition","value":"B"},{"text":"Oligopoly","value":"C"},{"text":"All the three","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":181006,"question":"A monopolist is always interested and obtains.","choices":[{"text":"Normal profit","value":"A"},{"text":"Subnormal profit","value":"B"},{"text":"Continues production even at loss","value":"C"},{"text":"Super normal profit","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":181003,"question":"Buyers and sellers under perfect competition are.","choices":[{"text":"The same in number","value":"A"},{"text":"Large in number","value":"B"},{"text":"Small in number","value":"C"},{"text":"None of the above","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":181002,"question":"The market of cars is.","choices":[{"text":"International market","value":"A"},{"text":"Regional market","value":"B"},{"text":"Local market","value":"C"},{"text":"Domestic market","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":181001,"question":"A short period market is the market of.","choices":[{"text":"Perishable goods","value":"A"},{"text":"Durable goods","value":"B"},{"text":"Consumer goods","value":"C"},{"text":"Capital goods","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":181000,"question":"The concept of perfect competition was introduced by.","choices":[{"text":"Adam Smith","value":"A"},{"text":"Alfred Marshall","value":"B"},{"text":"Keynes","value":"C"},{"text":"Malthus","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":180999,"question":"Different prices are charged from different customers of the same product. This is called.","choices":[{"text":"Short run price","value":"A"},{"text":"Price instability","value":"B"},{"text":"Price discrimination","value":"C"},{"text":"Long run price","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":180998,"question":"Normal price is a price which prevails","choices":[{"text":"In day to day market","value":"A"},{"text":"In domestic market","value":"B"},{"text":"In the long run market","value":"C"},{"text":"In a foreign market","value":"D"},{"value":"E"}],"correctAnswer":3}]