| 1 |
At the point of equilibrium of firm under perfect competition |
- A. MC curve must be rising
- B. MC curve must be falling
- C. MR curve must be rising
- D. MR curve must be falling
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| 2 |
According to law of diminishing marginal utilities , a consumer maximises his total utility where. |
- A. MU<sub>a</sub> = MP<sub>a</sub>
- B. MU<sub>a</sub> = AU<sub>a</sub>
- C. MU<sub>a</sub> = TC<sub>a</sub>
- D. MU<sub>a</sub> = P<sub>a</sub>
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| 3 |
Which one is the third stage of production under law of variable proportions |
- A. Decreasing average returns
- B. Increasing average return
- C. Negative marginal return
- D. Increasing marginal return
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| 4 |
If the rate of inflation goes up, the real wags of labourers will : |
- A. Increase
- B. Decrease
- C. Remain the same
- D. Noe of the three
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| 5 |
In the second stage of the law of variable of proportions the average product: |
- A. Rises
- B. Remains constant
- C. Falls
- D. None of the three
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| 6 |
An example of natural resource is |
- A. factory
- B. skilled doctor
- C. oil reserves in the ground
- D. oil reserves in storage tank
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| 7 |
When business expands beyond its optimum level what type of economics will it be getting. |
- A. Diseconomies
- B. Internal economies
- C. External economies
- D. Maanagerial economics
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| 8 |
In factor market, which statement is true |
- A. wages are determined by MP
- B. Rent is fixed by landlords
- C. interest rate is determined by Govt.
- D. profit is determined by luck
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| 9 |
For production of goods we need factors |
- A. few
- B. 2
- C. 4
- D. unlimited
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| 10 |
According to Keynes interest is a payment for |
- A. consumer's preference
- B. producer's preference
- C. liquidity preference
- D. state bank's preference
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