| 1 |
The most efficient scale of production of a firm is where |
- A. LAC is minimum
- B. SAC is minimum
- C. LMC is minimum
- D. SMC is minimum
|
| 2 |
Limited liability is one of the advantages of |
- A. partnership
- B. sole proprietor
- C. joint stock company
- D. cooperative society
|
| 3 |
Cross elasticity of Suzuki and Honda cars will be |
- A. Positive
- B. negative
- C. zero
- D. infinite
|
| 4 |
y = 20-5 x this function is. |
- A. Increasing function
- B. Decreasing function
- C. Constant function
- D. Exponential function
|
| 5 |
Internal economies of scale include |
- A. risk-bearing economics
- B. trade mark
- C. managerial economies
- D. a and c of above
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| 6 |
An important factor which promotes large scale production is: |
- A. Extant of market
- B. Revolutionary changes in social life
- C. Culture and civilization
- D. All the three
|
| 7 |
When a competitive firm faces loss the slop of its MR curve is: |
- A. Negative
- B. Positive
- C. Zero
- D. Unity
|
| 8 |
Which one will be termed as supply of a product. |
- A. One tone potato in cold storage
- B. One ton rice offered for sale in market
- C. One ton rice brought for sale in market at a certain price.
- D. None of the three
|
| 9 |
Profit = ? |
- A. TR - TC
- B. TR - MC
- C. TC - MC
- D. TR + TC
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| 10 |
The word "LIMITED" at the end of a firm's name means |
- A. it produces only commodity
- B. has limited capital
- C. cannot have more than 100 members
- D. shareholders liability to pay debt of firm cannot exceed value of their investment
|