[{"id":236544,"question":"Production of an additional unit of factor refers to:","choices":[{"text":"AP","value":"A"},{"text":"TP","value":"B"},{"text":"MP","value":"C"},{"text":"MR","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":236543,"question":"MRP curve of a factor represents:","choices":[{"text":"Demand of factors","value":"A"},{"text":"Supply of factors","value":"B"},{"text":"Price of factors","value":"C"},{"text":"Both a and c","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":236542,"question":"MRP curve is slopping:","choices":[{"text":"Negative","value":"A"},{"text":"Positive","value":"B"},{"text":"Downward","value":"C"},{"text":"Both a and c","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":236541,"question":"Marginal productivity theory was presented by:","choices":[{"text":"Pigou and Cannon","value":"A"},{"text":"Adam Smith and F.A. Walker","value":"B"},{"text":"Keynes and Semeulson","value":"C"},{"text":"Marshall and J.B. Clark","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":236540,"question":"Firms earn abnormal profit when:","choices":[{"text":"AR = AC","value":"A"},{"text":"AR < AC","value":"B"},{"text":"AR > AC","value":"C"},{"text":"AC = AR","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":236539,"question":"Under monopoly the price is always equal to:","choices":[{"text":"AR","value":"A"},{"text":"MR","value":"B"},{"text":"MC","value":"C"},{"text":"AVC","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":236538,"question":"Under monopoly, the slope of MR curve is:","choices":[{"text":"Twice the slope of AR curve","value":"A"},{"text":"Less than the slope of AR curve","value":"B"},{"text":"Greater than the slope of AR curve","value":"C"},{"text":"Half the slope of AR curve","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":236537,"question":"If MC=MR=AR=AC=P, then a firms gains:","choices":[{"text":"Super profit","value":"A"},{"text":"Normal profit","value":"B"},{"text":"Normal loss","value":"C"},{"text":"Abnormal loss","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":236536,"question":"In the long run monopolist earns profit:","choices":[{"text":"Normal","value":"A"},{"text":"Abnormal","value":"B"},{"text":"Super normal","value":"C"},{"text":"Both b and c","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":236535,"question":"Under Monopoly, a firm is in equilibrium position when Ed is:","choices":[{"text":"Equal to unity","value":"A"},{"text":"Less than unity","value":"B"},{"text":"Grater than unity","value":"C"},{"text":"Both b and c","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":236534,"question":"Price discrimination policy refers to:","choices":[{"text":"Single price","value":"A"},{"text":"Two prices","value":"B"},{"text":"Multiple prices","value":"C"},{"text":"None of these","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":236533,"question":"In the long run firms mostly earn normal profit in:","choices":[{"text":"Perfect competition","value":"A"},{"text":"Oliogopoly","value":"B"},{"text":"Monopoly","value":"C"},{"text":"Duopoly","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":236532,"question":"The term \"Price Taker\" is used in:","choices":[{"text":"Perfect competition","value":"A"},{"text":"Oliogopoly","value":"B"},{"text":"Monopoly","value":"C"},{"text":"Monopsony","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":236531,"question":"The term \"Price Maker\" is used in:","choices":[{"text":"Perfect competition","value":"A"},{"text":"Oliogopoly","value":"B"},{"text":"Monopoly","value":"C"},{"text":"Monopsony","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":236530,"question":"Oligopoly means:","choices":[{"text":"Single seller","value":"A"},{"text":"Two seller","value":"B"},{"text":"Multiple sellers","value":"C"},{"text":"Multiple buyers","value":"D"},{"value":"E"}],"correctAnswer":3}]