Question # 1

A firm is charging a different price for each unit purchased by a consumer.This is called:

First-degree price discrimination

Second-degree price discrimination

Third-degree price discrimination

None of the given options

What was the share of livestock to the GNP during 2005-06?

4.7percent

6.5percent

3.5percent

8.0percent

During 2005-06, the construction sector contributed 9.2 percent to GNP and the share of fishing was:

9.2percent

4.4percent

1.9percent

-3.6percent

To find the profit maximizing level of output, a firm finds the output level where:

Price equals marginal cost

Marginal revenue and average total cost

Price equals marginal revenue

None of the given options

The other name of law of diminishing return is:

Law of supply

Law of diminishing marginal utility

Law of demand

Law of increasing cost

What was the contribution of the services sector to the GNP in FY 2005-06.

9.2 percent

3.5 percent

8.8 percent

4.7 percent

NAT II Management Science Economy MCQs With Answers