Question # 1

The slope of MR curve in monopoly is

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Vertical

Increasing

Horizontal

Negative

In the short period, fixed cost curve has the tendency

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Parallel to ox-axis

Parallel to oy-axis

Positive

Negative

Slope of demand curve of exceptions of law of demand is

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Negative

Positive

Zero

Fixed

Economic law are made by:

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Govt.

Courts

Parliament

Behaviour of the people

Firm earns maximum profit at the point where

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Difference between total costs and total revenue is highest and the total revenue curve is above

Total costs and total revenue curves intersect each other

Total costs curve is above the total revenue curve

Difference between total costs and total revenue is minimum

Which law provides the base of law of demand

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Law of supply

Law of diminishing marginal utility

Law of equi marginal utility

Law of decreasing return

Who did introduce Macro Economics

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Marshall

N.W. Senior

J.M. Keynes

Ricardo

Average product is maximum, when marginal product curve ______ average product curve

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Intersects falling

Intersect rising

Is above

Is below

Wages of temporary labourers are:

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Fixed cost

Marginal cost

Total cost

Variable cost

Factors of production are more mobile

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In international trade

In the country

In both

In none

Under constant return, the slope of marginal product curve is

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Positive

Negative

Infinite

Zero

According to comparative cost theory conditions ------------- in goods and labour market exist

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of monopoly

of duopoly

Monopolistic competition

of perfect competition

Which law is applicable when human and natural forces are balance ?

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Increasing cost

Constant cost

Diminishing cost

Both (a) and (c)

If income of government is less than its expenditures, then it is a

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Surplus budget

Deficit budget

Development budget

Balanced budget

If a monopolist wants to increase the sale of its product, it will have to --------- the price of its good

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Decrease

Increase

Keep constant

None of the three

Marginal revenue product is the amount of money attained by selling:

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Average product

Marginal product

Total product

Total cost

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